Cathie Wood 'simultaneously buys' Tesla, SpaceX... Will AI bet succeed?

▲ Cathie Wood, Elon Musk, Tesla (TSLA), SpaceX (SPCX)/AI-generated image

ARK Invest, led by Cathie Wood, additionally purchased $22.78 million worth of shares in Tesla (TSLA) and SpaceX (SPCX). Elon Musk, CEO of Tesla and SpaceX, warned that artificial intelligence could surpass the sum of all human intelligence within five years.

According to crypto media outlet Coingape on July 28 (local time), ARK Invest bought 27,864 shares of Tesla on the 27th for approximately $8.62 million. The purchase amount was calculated based on Tesla's closing price of $309.22.

ARK Innovation ETF (ARKK) purchased 18,730 shares of Tesla for approximately $5.79 million. ARK Autonomous Technology & Robotics ETF (ARKQ) added 9,134 shares for approximately $2.82 million.

The SpaceX purchase amounted to 124,543 shares, approximately $14.14 million. ARKK acquired 78,031 shares for about $8.86 million, and ARKQ purchased 25,442 shares for about $2.89 million. ARK Next Generation Internet ETF (ARKW) added 10,369 shares for approximately $1.18 million, and ARK Space Exploration & Innovation ETF (ARKX) added 10,701 shares for approximately $1.21 million.

ARK Invest also bought 4,799 shares of 3iQ Solana Staking ETF (SOLQ.U), which invests in Solana (SOL). The purchase amounted to approximately $29,850 based on a share price of $6.22. ARKW purchased 2,759 shares, and ARK Fintech Innovation ETF (ARKF) acquired 2,040 shares.

Musk stated in an interview with Zanny Minton Beddoes, editor-in-chief of The Economist, that “AI could surpass the sum of human intelligence in about five years.” He added that “there will virtually be nothing that AI cannot do better than a human, except for being human,” and predicted that an “era of incredible abundance” could emerge. He also added that the importance of money could disappear by 2036 if the risks of powerful AI systems and ‘killer robots’ are avoided.

[Article Key Summary]

-ARK Invest additionally purchased approximately $22.78 million worth of shares in Tesla and SpaceX.

-The Tesla purchase amounted to approximately $8.62 million, and the SpaceX purchase amounted to approximately $14.14 million.

-Elon Musk warned that artificial intelligence could surpass the sum of all human intelligence within five years.

*Disclaimer: This article is for investment reference only and does not take responsibility for investment losses based on it. The content should be interpreted for informational purposes only.*