Cathie Wood

The jobs report was a barnburner. Nonfarm payrolls increased by 172,000 versus expectations for 88,000, while prior months were revised higher by 93,000. Wage growth came in at roughly 0.3%.

Yet the market sold off.

In our view, the market is misreading the signal. It is assuming that stronger than expected employment and growth will cause a an acceleration in inflation. History would suggest otherwise. 

Productivity growth is running near 3%, while unit labor costs are hovering around 0.5%. Those are not the hallmarks of an inflationary boom. They are the hallmarks of healthy, productivity-driven growth that will lower inflation.

Meanwhi…

SpaceX filed for what could be the largest IPO in history, but ARK believes it is not the only one. Investors should also focus on what comes next. We have been tracking this pipeline for years. The ARK Venture Fund holds positions in six companies with active IPO timelines. Each of these reached public market scale in private markets. The median age of a US company at IPO has reached 12 years, up from 5 in 1999. The window where the most value is created is increasingly happening before a company lists. ARK’s Global Head of Commercial Strategy Renato Leggi published a full guide on the potential IPO wave and how we are positioned. I would…

https://t.co/Bi0A0Njmzc

When we launched the ARK Venture Fund in September 2022, our goal was clear: democratize access to venture capital and many of the most important innovation platforms evolving today. Today, the ARK Venture Fund has surpassed $1 billion in assets under management. What stands out to us most is the acceleration in adoption. It took just over two years to reach our first $100 million. The next $900 million followed in roughly 18 months, with the last $500 million coming in only about five months. In our view, investors increasingly understand that many of the most transformative companies in the world are staying private longer. Public markets…

Hey parents and grandparents of Americans younger than 18 years old! Check out this Administration’s #InvestAmerica accounts which will help your loved ones catch and ride the financial wave of this technology revolution. Thank you for your leadership role, Brad Gerstner @altcap!

Beautiful! I have accumulated ~3 million frequent flyer miles on #AmericanAirlines, a number that Starlink will help turbocharge in the years ahead. Maybe AA/Starlink miles will translate into Starship miles so that I can fly to the moon or Mars!

Impacted by Ryan Hunter-Raey’s unfortunate spinout at the #Indy500, @katherinelegge crashed into a wall at ~200mph and yet, hours later, raced another 600 miles at the #NASCAR Coca-Cola 600 in Charlotte. We admire your grit, tenacity, and determination, Kat!

At the #Indy500 and #NASCAR Coca-Cola in Charlotte, both on the same day, @katherinelegge is attempting "The Double", one of the most daunting challenges in racing. Imagine driving from NYC to Florida in five hours at 200mph, with a 580 mile flight in between!

We loved our time with you in St. Petersburg, @realBobbyHealy ! Thank you for bringing your wisdom and wit to ARK’s Big Ideas Summit at spARK LABS. We are a proud investor in Manna, a drone company revolutionizing the transportation of goods and services in the US and Europe!

Little did we know in 2012 that Tesla’s Model S would lead not only to an energy storage revolution but also to the convergence of robotics, AI, and space exploration to the moon, Mars, and beyond! Always grateful to @elonmusk, and to @IraEhrenpreis who has been by his side.

For too long, many wealth creation opportunities in innovation have been gated. At @ARKInvest, we believe that should change. The team at @RobinhoodApp agrees. Different structures, same mission: expand access for everyday investors. Thank you @ShivVerma for a wonderful conversation about access to private markets! ARK Venture Fund info: https://t.co/Zx75GC6PMb

ARK is excited to participate in @Kalshi's latest funding round. We believe prediction markets are emerging as a powerful new layer of financial infrastructure, enabling real-time price discovery around events, probabilities, and the evolving state of the world. Kalshi is at the forefront of this innovation, and we’re thrilled to support a team pushing the boundaries of how information is aggregated and expressed through markets. Congratulations to the entire team on this important milestone!

.@Gwynne_Shotwell, obviously! 😉

Thank you for this far-ranging and fascinating interview, @cz_binance !

One of the more interesting signals in the data right now is that the yield curve continues to flatten despite a significant increase in oil prices on a trailing three-month basis. Historically, in a more traditional economic cycle, an energy shock that is being monetized by the Federal Reserve would steepen the curve, not flatten it. The Fed is not monetizing this energy shock. In our view, the bond market may be beginning to discount something much more powerful: the deflationary impact of artificial intelligence and technologically enabled productivity gains across the economy. The cost to train AI models is falling dramatically. Inferen…

Thank you for having me @carolmassar and @JMathieuReports!

The May jobs report is coming at a critical point for monetary policy. I'll be sharing my analysis on what the data signals for rates, growth, and more in this month's In The Know later this week. What else would you like me to address?

Truth wins out.

.@demishassabis understands that most of the healthcare budget today is really “sickcare”, that AI and CRISPR will cure the sick, and that trillions of chronic sickcare dollars will shift toward cures and prevention. Unfortunately, most equity investors are not willing to underwrite @demishassabis’s vision of turning “sickcare” into healthcare: prevention and cures. Indeed, the market caps of two of the most important patent holders, $CRSP and $NTLA, are only ~$5B and ~$1.5B, respectively. Indeed, Crispr Therapeutics already is generating revenue from cures for sickle cell disease (SCD) and beta thalassemia. The markets it is targeting—incl…

Truth wins out, @amasad and @Replit !

AI is the most profound productivity unlock since the internet. ARK’s investment in OpenAI across three ETFs reflects our conviction that AI is driving step-function change across sectors and accelerating innovation.

Wild!

At @ARKInvest, we’re always looking for new tools that can sharpen our research and improve how we make investment decisions. Prediction markets are not just a new derivatives market — they represent a powerful new way to quantify risk and surface forward-looking insights. We’ve been working with the @Kalshi team to list markets on topics about which we are curious, from macroeconomic data to scientific milestones. We believe the wisdom of crowds will play an increasingly important role in 21st century investment decisions, and we are proud to partner with @MansourTarek_ and the team to scale this new financial infrastructure.

Describing Shopify’s Sidekick and Square’s ManagerBot, @varshikaARK and @GrousARK highlight the reason AI will cause an entrepreneurial explosion—in this case, in retail—during the next five to ten years. The barriers to new business entry are collapsing!

🤔😂

.@ARKInvest is honored to support the Future Vision XPRIZE— a $3.5M+ filmmaking competition giving creators the opportunity to imagine an optimistic future powered by AI. Every day at ARK, we look five years out. This competition asks creators to do the same — and show us the upside of technologically enabled disruptive innovation! “https://t.co/cAA9EnlLL1%E2%80%9D

Refik is one of the most amazing artists in the world!

Competition for Nvidia.

.@shanaka86 captures the profound transformation SpaceX is undergoing/causing as it plans to go public. Raising a rumored $50 billion, SpaceX would crush Aramco’s record IPO by 72%, not by extracting value with geology but by adding value with physics and engineering brilliance.

Elon is describing here the mind-blowing superexponential growth in AI capabilities. Physical or embodied AI adds another dimension: convergence, or s-curves feeding s-curves. Robotaxis are the convergence of AI, robotics, and energy storage. Slowly, slowly, then all at once!