Cathie Wood's ARK Invest has taken a stake in Elon Musk's artificial intelligence startup xAI as she deepens her big bet on artificial intelligence. ARK Venture Fund has invested in xAI as of May 2024. The fund also invests in other AI companies like OpenAI, Figure AI, and Shield AI. Cathie Wood is a well-known AI bull and considers Tesla the "biggest AI opportunity" due to its robotaxi ambitions. She also views OpenAI as being at the "forefront of a Cambrian explosion" in AI. ARK Venture Fund targets smaller investors to access private companies with investments as low as $500. It has invested in nearly 50 private companies.