Cathie Wood’s Best Month Ever: 2023 Bets on Tech, Crypto, & AI 2/1/23

Squawk Pod

CNBC

News, Business News, Investing, Business

4.2 • 543 Ratings

🗓️ 1 February 2023

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

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Summary

Ark Invest CEO and CIO Cathie Wood shares her big investing ideas for 2023 after her flagship fund reported its best month ever. Ark Innovation ETF notched a near-28% bump in January, but for the last two years, the fund is still down 72%. Wood discusses the wind-down of inflation and her bet that ChatGPT is just the beginning of a new AI era. Even Google is exploring ChatGPT-like technology, asking employees to test some of its competitors. Plus, Snap offered weak guidance for its next quarter, and its own slowdown in digital ad spend is a warning signal for other social media stocks. And, after ExxonMobil reported record breaking profits in 2022, the White House is challenging its dividends for shareholders. In this episode: Cathie Wood, @CathieDWood Kelly Evans, @KellyCNBC Mike Santoli @michaelsantoli Andrew Ross Sorkin, @andrewrsorkin Cameron Costa, @CameronCostaNY

Transcript

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0:00.0	Bring in show music please.
0:04.0	This is Squawk Pod and I'm C and Vee producer Cameron Costa.
0:08.0	On today's episode,
0:10.0	Famed Tech Investor Kathy Wood, her best month ever and her calls for what still to come.
0:15.8	We do believe and we have been saying for some time that the inflation is unwinding.
0:20.7	We think that the market is leading the Fed.
0:23.5	ARK invests big ideas for 2023 and Kathy Wood's next big bet in tech.
0:28.8	We have a lot of debates about the commoditization associated with artificial intelligence.
0:34.3	The key here is who has the proprietary data?
0:37.7	AI, chat gPT and all its uses, if you use them.
0:42.6	You haven't tried it yet?
0:43.8	Nope.
0:44.8	I'm not going to bring on my own obsolescence.
0:47.2	Yeah. Plus, social media's ad spend and snaps a rough road ahead, but there's hope in our youngest.
0:53.8	What's going to be the end story for Snap?
0:55.4	I wonder.
0:56.0	Your kids aren't old enough.
0:57.0	There's a generation, the tonnet.
0:59.2	It's Wednesday, February 1st, 2023,
1:02.2	and Squawkpad begins right now.
1:04.7	Stand under by in three, two, one,
1:07.7	Q Andrew.
	...

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