Ark Invest CEO Sidesteps OpenAI, Names Tesla Biggest AI Project

Cathie Wood, ARK Invest CEO has picked Elon Musk’s Tesla as the biggest Artificial Intelligence (AI) project, over others like OpenAI and Microsoft. 

Tesla To Win With Robotaxis

In a conversation with Valerio Baselli, a senior international editor with Morningstar, Wood identified robo-taxis or autonomous taxi platforms as the sector that will take the lion’s share of the AI market, adding that it is a “winner takes most market.” 

She explained that these vehicles signify a fusion of energy storage, AI, and robotics. 

The ARK Invest CEO stated that this entire “opportunity” will generate revenues of about $8 to $10 trillion by 2030, half of which she believes, will go to platforms like Tesla. This potential was mirrored in a statement made by Tasha Keeney, Director of Investment Analysis & Institutional Strategies at Ark Investment, after Tesla released its Q4, 2023 earnings report in January.

The results appeared to be disappointing at the time but Keenay thought otherwise, citing that investors were focusing only on the short-term effects of Tesla’s results. She identified Tesla’s plan to invest and grow into robot taxis and stated that it could be beneficial for the firm.

Similarly, Cathie sees the electric vehicle manufacturer moving towards the goal of autonomous taxi networks and this led her to tag Tesla as the biggest AI project in the world.

Apart from Tesla’s AI engagements, other businesses owned by Elon Musk are working on adopting and integrating the technology. Noteworthy, Musk introduced XAI several months back. 

OpenAI Also Have Innovative Solutions

Cathie’s statement probably sounds like a sneer to pure AI platforms like OpenAI that has launched a number of tools and Large Language Models (LLMs) that have revolutionized several industries. 

OpenAI’s ChatGPT has emerged as one of the most talked-about AI tools globally. Last year, it became the most-read English article on Wikipedia, with an impressive total of 49.5 million page views.

A few months back, the top AI company also launched OpenAI Sora, a revolutionary tool that can create videos from textual descriptions. The firm is currently in a phase where it is trying to convince Hollywood to utilize the AI tool. Considering these achievements, many AI enthusiasts may likely disagree with Cathie’s ranking.