EXCLUSIVE: Is Cathie Wood Using ChatGPT To Pick Stocks?

Most investors know that Ark Invest founder Cathie Wood's investment style is to consistently bet on disruptive innovation: sectors and companies that are in nascent phases but will become headline grabbers in the wider tech world.

She's proven herself multiple times, from her initial stake in Nvidia Corp NVDA back in 2014 when shares were trading at the $5 level, or when she bought shares of Tesla Inc TSLA in the fourth quarter of 2016, when its market cap was just $1.25 billion (it's at nearly $800 billion now).

So with artificial intelligence becoming a household word in 2023 thanks to OpenAI's advancements with its flagship large language model ChatGPT — it's safe to ask, how is Wood using the powerful tech? Is she using it to pick stocks?

No, she's not using it to pick stocks, (we did, though — check this out), but she is using the platform.

Wood told Benzinga CEO Jason Raznick in an exclusive interview on "The Raz Report" the Ark Invest team is using ChatGPT. “Our analysts are now writing with [ChatGPT], saying something like, ‘please translate this into grammar and a writing style like Cathie Wood.’ It’s a bit of an exaggeration, but it’s working,” Wood said.

Interested in the future of technology and its potential to transform industries? Join Benzinga's 2023 Future of Digital Assets to hear more from industry experts.

The real value of ChatGPT for Ark, according to Wood, is in its ability to “make very difficult concepts clearer.” It's not a trivial matter for an investment firm that has to convey complex investment theses to a varied audience that ranges from young, budding investors to well-seasoned market veterans.

Benzinga’s Take: Recalling our previous coverage on Wood’s nuanced approach to companies like Nvidia, it’s clear that clarity in messaging is part of Ark Invest’s DNA. Now, with ChatGPT, Wood has another tool in her arsenal to continue that level of cogent communication.

Read next: EXCLUSIVE: Tesla Lowers Prices In China Because It Can, Not Because It Has To, Says Cathie Wood

Photo courtesy of Ark Invest.