Cathie Wood predicts AI software companies will be major investment, driving potential gains.

From NASDAQ: 2024-06-22 17:00:00

Ark Investment Management, led by CEO Cathie Wood, predicts AI software companies will be a major investment opportunity. Ark’s ETFs, including the flagship Ark Innovation ETF, reflect this stance with a focus on tech stocks like Tesla. Wood’s investments in AI software companies like OpenAI and Anthropic could lead to substantial gains.

Amazon is leveraging AI across its businesses, particularly through Amazon Web Services (AWS). The tech giant uses AI to power recommendations, develop AI chips, and offer AI tools for sellers. With Wall Street expecting record revenue in 2024, Amazon stock appears undervalued thanks to AI driving profitability and efficiency initiatives.

Duolingo’s language education platform has seen impressive growth, with AI playing a key role in its success. The company’s AI models power features like personalized feedback and chatbots for conversational practice. With the introduction of the AI-driven Max subscription, Duolingo aims to further monetize its user base and drive continued strong financial performance.



Read more at NASDAQ: Cathie Wood Says Software Is the Next Big AI Opportunity — 2 Super Stocks You’ll Wish You’d Bought Today if She’s Right