Cathie Wood's Ark announces OpenAI stake, Bloomberg News reports

FILE PHOTO: Cathie Wood, founder and CEO of ARK Investment Management LLC, speaks during the Skybridge Capital SALT New York 2021 conference in New York City, U.S., September 13, 2021. REUTERS/Brendan McDermid/File Photo

(Reuters) - Cathie Wood's Ark Investment Management said it holds a stake in Microsoft-backed OpenAI, Bloomberg News reported on Thursday, citing the company's mail to its clients.

"As of April 10, 2024, the ARK Venture Fund invests in OpenAI," Ark said, referring to its $54 million VC fund, the report said.

(Reporting by Gnaneshwar Rajan in Bengaluru; Editing by Sherry Jacob-Phillips)

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