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 had purchased 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 holdings, according to Ark Chief Futurist Brett Winton in an interview to Bloomberg, which added that Ark Venture Fund revealed the stake in an email to clients.
