WORLD

Now You Can Invest in Elon Musk’s xAI Through Cathie Wood’s ARK Venture Fund

Cathie Wood’s ARK Invest purchased a stake in Elon Musk’s startup xAI Tech as she is expanding on her bet toward AI.

This Sunday, ARK Venture Fund has placed its bet on xAI since St. Petersburg, Florida-based asset manager announced its investment in it in an email to its clients on Tuesday evening. It also invests in OpenAI and other players of NT that are prominent now, such as Figure AI and Shield AI.

Such a type of company is not that unique to Musk though, as Wood’s venture fund also invests in the xAI startup. The firm has also investing in Elon Musk’s space exploration company SpaceX and communication company X Corp. which used to be Twitter.

It was created in September of 2022 and is mainly oriented to attracting small investors who are willing to invest in venture capital with as little as $500.

The actors of this fund have put nearly 50 million dollars and it has stakes in almost 50 businesses and most of them are immature. It has a high management fee of 2. 75% meaning that it will cost you a lot of money to manage.

xAI was established in March 2023 with Musk as its founder, and aims to compete with OpenAI which is backed with hundreds of millions of dollars from Microsoft, and Google under the Alphabet holding. Musk also co-founded OpenAI. It has recently closed Series B funding of $6 billion which set this company post-money valuation of $24 billion. X has claimed that the startup wants to develop a new and improved version of Grok, its AI chatbot that would require a supercomputer to operate.

One of the most popular Wood has confessed that he has been boiling in AI as a major disrupter of his/her innovation strategy everywhere.

He has referred to Tesla as the biggest AI playthrough its robotaxi plan she has pointed at Tesla as the biggest AI opportunity in the world She has also said that his flagship ARK Innovation Fund has Tesla as its largest position with the largest weighting at 11. 5%.

Wood also commented that OpenAI is “at the cutting edge of what he has described as a Cambrian explosion in the capability of artificial intelligence. ”

Ashik Ahmed

Ashik Ahmed (Aryan) is a tech writer for Dubai News, covering a wide range of topics with a particular specialization in artificial intelligence and technology. With a keen eye for detail and a passion for the latest innovations, Ashik has established himself as a trusted voice in the tech industry. he is the founder and CEO of XovaTech, Offers computing, software, website dev, SEO, online marketing and also into celeb management and artificial intelligence. His in-depth analysis and insightful commentary provide readers with a comprehensive understanding of the rapidly evolving technological landscape. Whether it's emerging trends, groundbreaking startups, or the latest gadgets, Ashik's expertise ensures that his articles are both informative and engaging.

Recent Posts

Leila Mcharek Raises the Bar for Women Empowerment and Financial Freedom Worldwide

Leila Mcharek is one groundbreaking, stereotype-shattering, empowered woman, without a doubt. Why? For one, she…

1 day ago

Instagram Launches “Rings” Awards to Honor Top Global Creators

Instagram is stepping into the global awards scene with a new initiative called Instagram Rings,…

2 days ago

Dubai Mall Announces “Dubai Mall Festival of Fashion” — A Global Celebration of Style

Dubai, UAE – 7th October 2025 – Dubai Mall, the world’s most visited shopping mall,…

2 days ago

Mary Cristine, a Celebrated Vitality and Fitness Advocate Inspires Women to Lead in AI-Driven Health Innovation

Mary Cristine, a celebrated vitality and fitness advocate, believes that the future of health heavily…

3 days ago

Zendaya Becomes Rolex’s New Global Ambassador

Rolex has officially announced Zendaya as its newest global brand ambassador, marking another major milestone…

6 days ago

Dubai Property Sales Hit $14.8 Billion in September 2025

Dubai’s real estate market showed impressive growth in September 2025, reaching sales worth AED54.3 billion…

1 week ago