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Cathie Wood, Ark Invest Announce Stake In OpenAI: Here's How You Can Get Exposure To ChatGPT Parent, X (Twitter), SpaceX, Discord, Epic Games

Chris Katje
April 11, 2024

One of the most popular companies over the past two years has been ChatGPT parent OpenAI.

The company has risen in interest and valuation and is viewed as a leader in the artificial intelligence sector.

With a firm belief in the future of artificial intelligence, Ark Invest announced this week it took a stake in OpenAI.

What Happened: Ark Invest announced it invested in OpenAI through the Ark Venture Fund, which launched in September 2022.

"The Ark Venture Fund has invested in OpenAI, the makers of ChatGPT, Dall-E and Soar. Explore the other exciting private companies that the Venture Fund has invested in here," Ark Invest tweeted with a link to the Venture Fund.

The company did not announce the size of the investment or at what valuation it valued OpenAI.

Microsoft Corp (NASDAQ:MSFT) is among the biggest investors in OpenAI, with a total of $13 billion invested, including a $10 billion investment in January 2023 that was a top headline for the AI sector.

In February, OpenAI saw shareholders looking to sell shares at a $86 billion valuation and the company was reported to have a $100 billion valuation in late 2023.

Related Link: Cathie Wood’s Ark Invest Sees $28 Trillion Opportunity In AI: Tesla, Drones And More

Why It's Important: Investors are can invest in the Ark Venture Fund with a minimum investment of $500.

The fund holds stakes in private companies and public companies.

Here's a look at the top 10 holdings of the fund as of March 31, 2024.

  1. Epic Games: 8.2%
  2. Freenome Inc: 6.5%
  3. Relation Therapeutics: 6.2%
  4. Blockdaemon Inc: 6.1%
  5. Anthropic: 5.5%
  6. Figure AI: 5.1%
  7. Discord: 5.1%
  8. SpaceX: 4.7%
  9. Shield AI: 4.3%
  10. Databricks: 4.2%

The fund has $53.7 million in assets according to the website. Over the past year, the net asset value of shares has risen by 34.7%.

Databricks became a recent investment by Congresswoman Nancy Pelosi and her husband.

The fund also owns a stake in X Holdings, formerly known as Twitter, representing 0.95% of the fund as the 30th largest holding.

The top-held public companies include Coinbase Global Inc (NASDAQ:COIN), Robinhood Markets Inc (NASDAQ:HOOD), Palantir Technologies Inc (NYSE:PLTR) and Tesla Inc (NASDAQ:TSLA). Coinbase is the largest holding ranking as the 12th largest and a 3.1% weighting.

With an investment in the Ark Venture Fund, investors get exposure to some of the top public companies and investments in some of the top private companies. The fund also is among the few that offers direct exposure to Tesla, SpaceX and X Holdings, three companies with ties to Elon Musk.

Read Next: Is NVIDIA Overpriced? Cathie Wood’s Ark Invest Highlights 3 Other AI Stocks

Photos: Open AI, Ark Invest, Shutterstock; Cathie Wood, Courtesy Ark Invest

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