Cathie Wood's ARK Invest has invested $60 million in Elon Musk's xAI.
ARK chief futurist Brett Winton said the money accounted for about 2% of the fund's holdings.
Last month, ARK Invest disclosed that 4% of its total holdings were invested in OpenAI and 5% in Anthropic, the company behind the Claude AI model. (Cointelegraph)
Earlier, Elon Musk's artificial intelligence company xAI announced the completion of a $6 billion Series B financing round, with Valor Equity Partners, Vy Capital, Andreessen Horowitz (a16z), Sequoia Capital, Fidelity Management & Research Company, Saudi Arabian Prince Alwaleed Bin Talal and his Kingdom Holding participating.
The funds from this round of financing will be used to bring xAI's first products to market, build advanced infrastructure, and accelerate the research and development of future technologies.