The Blubber

Per Bloomberg Television

Cathie Woods, the CEO of Ark Invest, has recently had a chance to talk about AI in an interview with Bloomberg Television. In that conversation, she shared how AI, specifically ChatGPT, could affect Google Search.

Woods: "For Google, ChatGPT was either the worse thing that has ever happened to it or maybe the best thing... We tend to think its disintermediated though by ChatGPT and other chat bots so we're not going to need that kind of search and therefore advertising that drives Google's model."

Cathie Woods also pointed out that there were people that think that Amazon could also be disrupted by the progress of the internet, saying people might in the future just shop directly from Instagram, Pinterest, or other social media sites.

Woods then noted that consumers could use AI tools like ChatGPT to say, "I want exactly this kind of item at the cheapest price anywhere in the world." This could result in buyers going directly to the source.

In April, Cathie Wood's Ark team released their latest Tesla price target, saying it could reach $2,000 per share in 2027, resulting in a $5 trillion valuation. On April 2022, they also said that they believed the Tesla share price could reach $4,600 by 2026.

In September, Cathie Woods bought 400,000 NVIDIA shares after it plunged 55%.

See flow at unusualwhales.com/flow.

Other News:

• Cathie Wood's $ARKK team released their latest $TSLA, Tesla price target: $2000 per share in 2027 $5 trillion valuation
• Cathie Wood Buys 400,000 Shares of NVIDIA After 55% Plunge in 2022

Resources:

Bloomberg Television