(Reuters) – Cathie Wood’s Ark Investment Management has bought a stake in xAI, Elon Musk’s artificial intelligence startup with a post-money valuation of $24 billion, Bloomberg News reported on Tuesday.
The stake represents about 2% of the fund’s investments, Ark Chief Futurist Brett Winton said in an interview with Bloomberg, adding that the Ark Venture Fund disclosed the stake in an email to clients.
Musk’s xAI announced Monday that it had raised $6 billion in Series B funding, backed by investors like Andreessen Horowitz and Sequoia Capital.
The purchase of the shares comes after the venture capital fund disclosed a position in OpenAI that represents about 4% of its holdings, according to the report, adding that Ark also has a stake in artificial intelligence startup Anthropic, which holds about 5% of constituted his assets.
Ark Investment Management did not immediately respond to a Reuters request for comment, while xAI could not be reached for comment.
(Reporting by Chandni Shah in Bengaluru; Editing by Sherry Jacob-Phillips)
