One of the investment focuses of Ark Funds is the rise of artificial intelligence. The company's CEO was able to ask Elon Musk questions about artificial intelligence Thursday in an X Spaces.
What Happened: Musk was one of the co-founders of OpenAI, the company behind the popular ChatGPT chatbot. OpenAI received a $10 billion investment from Microsoft Corp MSFT earlier this year as one of the biggest stories of 2023 for the growth of artificial intelligence.
Musk told Ark Funds CEO Cathie Wood that he was instrumental in creating OpenAI and the name of the company. Musk also said he helped get Ilya Sutskever to join the company.
Sutskever was previously with Google, a unit of Alphabet Inc GOOGGOOGL, before Musk was able to lure him away as a co-founder and chief scientist at OpenAI.
Musk added that it was that move that may have led to Alphabet co-founder Larry Page to stop being friends with him.
Today, Musk is not involved with OpenAI and said the company is no longer open-sourced. Instead, OpenAI is "super closed and for maximum profit." Musk added that the company should change its name to closed for profit and AI.
The billionaire said he has a bias in favor of open source, something you can see with the X platform.
Related Link: Why Cathie Wood Picks Tesla Over Nvidia As Top AI Play For Next 5 Years
Musk and Future of AI: In November, Musk's X.AI artificial intelligence company began rolling out its chatbot called Grok.
Musk said the goal of Grok is to be a truth and prover.
"I think there will be a competition for the truth," Musk said.
Musk added that if one chatbot strives for accuracy, it pushes them all to be more accurate, as people will naturally lean towards the one that is the most accurate.
Going forward, Musk said one of his goals is for Grok to be the funniest AI chatbot.
Musk is the CEO of Tesla Inc TSLA, a leader in electric vehicles. Ark Funds has argued that Tesla is one of the leading AI companies in the world, something that Musk confirmed is true.
Tesla is a top two holding in both the Ark Innovation ETF ARKK and the Ark Autonomous & Robotics ETF ARKQ. The stock is also the sixth-largest holding in the Ark Next Generation Internet ETF ARKW.
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