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Cathie Wood's calls on Bitcoin, Tesla, and AI

Cathie Wood shares her predictions for Bitcoin, Tesla, and AI with Yahoo Finance’s Julie Hyman and Brian Sozzi.

  1. Why Cathie Wood says AI will power the 'most massive productivity increase in history' here

  2. How AI productivity gains will be ‘astounding and shocking’ here

  3. How Tesla is dominating the auto industry & rival EV makers will ‘have trouble keeping up’ here

Context:

ARK’s Cathie Wood telling Yahoo Finance, Elon Musk "absolutely chose the right technology, and I think others are rethinking it now," Wood said. “If they do not switch over to this kind of battery technology, they will not be able to catch up with Tesla in terms of price declines without losing money — whereas Tesla’s gross margins are probably going to continue moving up on balance, even as it is cutting prices because its unit volumes, the economies of scale, are going to be so significant."

Video transcript

CATHIE WOOD: Last year was a disaster for crypto generally. However, if you look at the Bitcoin blockchain, it did not skip a beat. It is no surprise to us that Sam Bankman-Fried did not like Bitcoin. His firm FTX was completely centralized and opaque.

JULIE HYMAN: You guys are still looking for a million or more, $1 million or more in Bitcoin value, going out to 2030.

CATHIE WOOD: As investors reflect on what happened last year, the failures were those companies that were not decentralized, were not transparent.

BRIAN SOZZI: Do you think more price cuts are coming at Tesla just to keep competitors at bay?

CATHIE WOOD: Traditional auto manufacturers are going to have trouble keeping up with the price declines. Tesla's technology is enabling. Elon is on a different battery cost curve decline. Auto analysts made fun of him. If they do not switch over to this kind of battery technology, they will not be able to catch up with Tesla in terms of price declines.

AI is going to enable the most massive productivity increase in our history. The driver of this powerful move is primarily artificial intelligence. It is catalyzing all kinds of changes in all kinds of industries. And I don't think that investors have done enough research on how profound this impact is going to be.

The innovation we're seeing today, multi-omics, sequencing, robotics, energy storage, artificial intelligence, and blockchain technology, is going to disrupt the traditional world order. We're now ready for prime time for the use of artificial intelligence to increase productivity within organizations.

CATHIE WOOD: A lot of the public-facing excitement has been over things like ChatGPT. Do you think the market really well understands the potential for AI right now?

CATHIE WOOD: The company with the most data domain expertise and AI expertise, those are the kinds of companies we're looking. Our confidence in our outlook over the next five years has increased dramatically. And we think the future is bright for innovation.