ARK Investment Management Acquires Stake in Elon Musk's xAI

According to Odaily, ARK Investment Management, led by Cathie Wood, has purchased a portion of shares in Elon Musk's company, xAI. Brett Winton, ARK's Chief Futurist, stated that the shares of xAI held by ARK Venture Fund account for approximately 2% of the fund's total assets. Last month, the fund disclosed that it had invested 4.38% of its total assets in OpenAI shares and 5.1% in the company behind the Claude AI model, Anthropic. It is reported that the net asset scale of ARK Venture Fund is close to 60 million dollars. In previous news, Elon Musk's artificial intelligence company, xAI, announced the completion of a 6 billion dollar Series B financing round. Investors included Valor Equity Partners, Vy Capital, Andreessen Horowitz, Sequoia Capital, Fidelity Management & Research Company, and Prince Alwaleed Bin Talal of Saudi Arabia and his Kingdom Holding. The funds raised in this round will be used to bring xAI's first batch of products to market, build advanced infrastructure, and accelerate the research and development of future technologies.