Here's your Forbes Daily Briefing for Friday, October 24th.

Today on Forbes, Inside Superstar Investor Kathy Woods, AI Stock-Fueled comeback.

Among all the growth-minded investors who have seen their portfolios soar through this year's AI craze,

one familiar name has outperformed the rest.

Kathy Woods' ARC-Innovation ETF, ARKK, is up 87.1% in the last year, outperforming every

other ETF and mutual fund tracked by the American Association of Individual Investors

as of the end of September, aside from

single-stock funds.

Its gains have been largely fueled by AI-related stocks like Palantir Technologies, Advanced MicroDevices,

Tempice AI, and its longtime largest holding, Tesla, which Wood tells Forbes is the, quote,

largest AI project on Earth,

marveling at its work developing robotaxies.

The last time Wood was riding this high, following her flagship fund's 157% return in 2020,

her idealism and stubborn conviction soon backfired, leading to a 14% loss in 2021 and a dreadful 67% crash in 2022. Even after it has tripled since then, it remains 42% below its February

2021 peak. The flagship fund has $8.3 billion in assets under management, down from $17 billion

at the end of 2020, signaling that most investors abandoned her fund during its slide.

Wood dismisses any notion that she is being swept up in another bubble like the COVID-19 stock

surge. Wood says, quote,

the companies investing in AI are some of the most profitable companies in the world.

The reasoning models are astounding people in terms of how much more they can do if you give

these models time.

I think there were a lot of people expecting at some point the performance would level out.

...