{"id":64513,"date":"2023-05-25T21:24:48","date_gmt":"2023-05-26T04:24:48","guid":{"rendered":"https:\/\/drduru.com\/onetwentytwo\/?p=64513"},"modified":"2023-05-25T21:24:50","modified_gmt":"2023-05-26T04:24:50","slug":"running-with-picks-and-shovels-in-generative-ai-race","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2023\/05\/25\/running-with-picks-and-shovels-in-generative-ai-race\/","title":{"rendered":"Running With Picks and Shovels in the Generative AI Race"},"content":{"rendered":"\n

NVIDIA Races Ahead<\/strong><\/h2>\n\n\n\n

Money manager Cathie Wood of ARK Invest<\/a> is known for being unconventional by making concentrated bets on highly speculative companies, what Wood calls betting on innovation that solves problems. So of course Wood has AI-related bets in the various ARK funds. The ARK Autonomous Technology & Robotics ETF (ARKQ) in particular holds the shares of companies creating AI-related products and services<\/a>. Yet, on a day that may forever be remembered as symbolic of this year’s AI mania, ARKQ lost 0.9% while NVIDIA Corporation (NVDA) soared 24.4% post-earnings. NVDA is a semiconductor company now making waves with GPUs tailor-made for the voracious computing appetites of AI computing systems. All sorts of AI-related stocks jumped in sympathy, but ARKQ failed to participate. Part of the disconnect comes from Wood’s focus on the users of AI instead of the companies that are supplying AI-enabling products, also known as the picks and shovels.<\/p>\n\n\n\n