The Ark Invest CEO said she expects investors to be rewarded for bets on the emergent technology.
Ark's Innovation fund, which focuses on disruptive technologies such as AI, has gained 17% this year as of Thursday's close. The fund's rise has coincided with the boom in AI-driven mega-cap tech, though has underperformed theThe ETF is still more than 76% off its all-time closing high hit on Feb. 12, 2021.
Wood acknowledged the Innovation ETF's declines over the past two years, but remained optimistic about the potential for AI-linked stocks in the fund."Our confidence, if anything, has increased because of what's happening with artificial intelligence," she said.Trump threatened with jail time over gag order violation in New York fraud trial
"Many people feel comfortable they're on the right horses," she said."We clearly agree with . We are not so sure when it comes to the others. We think AI is going to be highly disruptive." Wood added that rapid advances in AI interfaces could usher in a new generation of industry leaders. For that reason, she suggested that the Ark Innovation ETF was a bet on the future of AI.
"We think that the surprise element out there, as our companies take off, harnessing these new platforms, that the element of surprise is going to be significant," she said."We will earn our way back into portfolios."A low-cost way to protect against an S&P 500 drawdown as risks escalateanimal stories
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