According to Bloomberg News, Cathie Wood’s Ark Investment Management has acquired a stake in xAI, Elon Musk’s artificial intelligence startup, which boasts a post-money valuation of $24 billion.
The stake represents approximately 2% of the fund’s portfolio, as disclosed by Ark Chief Futurist Brett Winton in an interview with Bloomberg. Additionally, Ark Venture Fund notified its clients of the stake via email.
Musk’s xAI recently announced a successful series B funding round, raising $6 billion with support from investors such as Andreessen Horowitz and Sequoia Capital.
This stake purchase follows Ark Investment Management’s disclosure of a position in OpenAI, accounting for about 4% of its portfolio. The report also notes Ark’s investment in another artificial intelligence startup, Anthropic, which constitutes around 5% of its assets.
As of now, Ark Investment Management has not responded to Reuters’ request for comment, and xAI has not provided a statement.
