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Cathie Wood: The midterm elections will not hinder the AI revolution, and economic growth is stronger than most investors expect

ARK Invest founder Cathie Wood stated that she does not believe the results of the U.S. midterm elections will hinder the AI revolution. She believes that the uncertainty in the market is understandable, but the economy is on a stronger growth trajectory than most investors realize.She noted that the stock market began to factor in the possibility of an extended war in Iran and expectations of a Democratic sweep in the elections as early as May and June, and the rise in oil and gasoline prices has also increased the cost of living pressure on consumers. Voters concerned about household finances made the congressional election results appear more conservative than the headlines suggested.Cathie Wood expects that data center construction companies will pay more attention to local community concerns and provide and highlight more community benefits, including lowering property taxes, increasing high-paying jobs, promoting commercial development, and funding schools and cultural facilities.She stated that the productivity gains brought by AI are accelerating and expects these benefits to translate into higher wages, stronger profit margins, more investment, and lower prices, helping to alleviate cost of living pressures. The market is currently only beginning to experience the impact of this technological revolution.

first_img Cathie Wood: Investors should pay attention to the capital flow of AI agents

ARK Invest CEO Cathie Wood stated at a summit hosted by Robinhood in Houston that investors have traditionally "followed developers" to gauge technological trends, but now they may need to "follow agents." The AI agents she refers to are software that can perform tasks on behalf of humans, rather than just answering questions or generating text. This statement came towards the end of a discussion on AI, private markets, and technology investments.As AI agents shift from answering questions to executing operations and spending funds, the type of financial infrastructure they will use has become a focal point. SharpLink co-CEO and former BlackRock digital asset head Joseph Chalom believes that the financial system used by AI agents should not be controlled by a few banks or tech companies. He cited the example of authorized agents booking hotels, pointing out that users should be able to set spending limits, revoke authorizations at any time, and view the agents' transaction records. Additionally, users should be able to transfer the agents' identities, financial information, and permissions between different financial service providers, similar to mobile number portability.Chalom believes that open blockchains like Ethereum can provide a universal financial network for different agents, applications, and companies to use collectively, eliminating the need for each AI company to build its own closed payment system. A report from BlackRock in September also noted that AI agents could create new demands for machine-oriented payment systems, such as payment API calls, purchasing data, or renting computing power, with stablecoins and blockchain being one of the viable solutions. Coinbase's x402 is designed to enable machines to pay for online services like data or APIs.
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