Cathie Wood: Tesla could be a big AI winner and stock isn't overpriced

this year, rising 86% on the back of a broad tech rally based on expectations the Federal Reserve will start cutting interest rates as inflation cools.

When asked if the EV-company's valuation was too high, Wood shook her head."Right now, and we're in price on this, Tesla's at roughly $200. We believe that in five years, 2027, it will be a $2,000 stock if our research is correct," she said. , with her flagship fund Ark Innovation ETF holding an 11.21% weighting.

Building on the AI hype, Wood said software providers will be the next group of stocks set to benefit from industry excitement powered by Nvidia."The bigger beneficiary over time is going to be software,""We are looking to the software providers who are actually, right now, where Nvidia was when we first bought it," she added, naming stocks including UiPath and Twilio.

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