Just buy more Tesla stock if you want to cash in on the ChatGPT-driven surge for AI tech, Cathie Wood says
"The world is changing incredibly quickly here," she said."We're seeing this with AI of course, all the news around ChatGPT that's captured the public's imagination and captured businesses' imagination, it's happening very quickly, and our portfolios are very focussed on the future.
But the Ark Invest chief feels Tesla is well positioned to take advantage of the rise of AI because it is looking to dominate the self-driving taxi market, which Wood has predicted will be one of the major transportation themes of the next decade. "Autonomous taxi platforms, we believe, are the biggest opportunity in the next five to 10 years out there around artificial intelligence," Wood said.
Ark's current Tesla outlook is for the company's share price to rise to between $1,500 and $1,600 within the next five years – which would represent a near-eightfold surge from the $207 level it traded at after Thursday's closing bell.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Cathie Wood's Ark Invest is loading up on these 2 small-cap stocksCathie Wood's Ark Invest has loaded up on these 2 small-cap names for the last 7 trading sessions
Read more »
Ark Invest CEO Cathie Wood explains the real reason behind tech layoffsARK Invest CEO and CIO Cathie Wood gives her perspective on what factors are driving the layoffs in the technology industry on 'Mornings with Maria.'
Read more »
Chinese state media, AI companies warn of risks in ChatGPT stock frenzyChinese state media on Thursday cautioned against risks in chasing ChatGPT-concept stocks, while artificial intelligence (AI) companies urged investors to be rational after their soaring share prices caught regulators' attention.
Read more »
Bing app downloads surge as users rush to try ChatGPT integrationThe Bing app is currently rocketing up the charts on Apple's App Store as people test out Microsoft's new AI-powered search engine.
Read more »
The Morning After: Microsoft’s next-gen Bing is ‘more powerful’ than ChatGPT | EngadgetThe top news stories today: Microsoft’s next-gen Bing is ‘more powerful’ than ChatGPT, The Nintendo Switch has now outsold the PS4, Google will soon blur explicit images in search by default..
Read more »
Alibaba says testing ChatGPT-style tool as AI buzz gathers paceChina's Alibaba Group on Wednesday said it is developing a ChatGPT-style artificial intelligence (AI) tool and that it was currently in internal testing.
Read more »