Ark Invest's Tasha Keeney names her favorite sectors to play the AI boom, including one she described as 'very hot.'
As the buzz around artificial intelligence continues to build, investors are looking to identify the sectors best placed to benefit. Ark Invest's Tasha Keeney is no different. Keeney, director of investment analysis and institutional strategies at the asset manager, estimates that the equity market capitalization attributable to innovation will jump to $220 trillion by the end of the decade, from the $15 trillion-$20 trillion it is at right now. "Most of that ...
"Sure, it's not perfect yet, it still messes up in specific scenarios. But what we're relying on here is the data advantage that Tesla that's very important in AI in general," she said. Shares in Tesla are down around 1.8% over the past 12 months. Ark Invest has a target price of $200 on the stock, but Keeney said this is in the process of being updated. Tesla was trading around $178 on Friday. A number of analysts are now cautious on the stock.
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