Cathie Wood Believes Midterm Elections Will Not Hinder the AI Revolution

ARK Invest founder Cathie Wood stated that the results of the U.S. midterm elections will not hinder the AI revolution, as economic growth is stronger than most investors expect. She noted that while market uncertainty is understandable, the economy is on a stronger growth trajectory. Wood mentioned that the stock market had already reflected expectations of an extended war in Iran and a Democratic election victory back in May and June. Rising oil and gasoline prices have increased the cost of living for consumers, leading voters to focus on household finances, which has resulted in a more conservative outcome in the congressional elections. She anticipates that data center construction companies will pay more attention to local community concerns, providing greater community benefits, including lower property taxes, increased high-paying jobs, promoting commercial development, and funding schools and cultural facilities. Wood also stated that the productivity gains brought by AI are accelerating, and she expects these benefits to translate into higher wages, stronger profit margins, more investments, and lower prices, helping to alleviate cost-of-living pressures. Currently, the market is only beginning to experience the effects of this technological revolution.