Tesla bull Cathie Wood's $54 million Ark Venture Fund invests in Sam Altman-led OpenAI, and Elon Musk sued both last month

Cathie Wood’s Ark Investment Management has announced that it holds a stake in Silicon Valley artificial intelligence darling OpenAI, a bet that the nascent AI industry will remake the tech landscape. In an email to clients Thursday, Ark said, “As of April 10, 2024, the Ark Venture Fund invests in OpenAI,” referring to its $54 million VC fund. “OpenAI is at the forefront of a Cambrian explosion in artificial intelligence capability,” the tech-focused asset manager said in the note. Launched in September 2022, the closed-end Ark fund invests in both...