Frank Downing, the director of research for next-generation internet at Ark Investment Management, led by Cathie Wood, has touted ChatGPT-parent OpenAI as the leader of the AI revolution. What Happened: In a blog post titled “OpenAI Investment Thesis” on Tuesday, Downing highlighted OpenAI’s innovation, rapid iteration on foundational models, and cost efficiency. “We believe that OpenAI, with its advanced large language models (LLMs), is uniquely positioned to be a leader in the AI revolution,” Downing wrote. He pointed out the company’s latest model, “o1,” which is designed to reason about pr…
