On Tuesday, Ark Invest CEO Cathie Wood pushed back on a bearish AI forecast, saying artificial intelligence will fuel economic growth rather than trigger a collapse.
Wood Says AI Will Boost Growth
In a post on X, Wood said that AI will accelerate productivity, expand entrepreneurship and support faster real gross domestic product growth while easing inflation pressures.
“Short-term dislocations and frustrations should give way to great opportunities, IF individuals harness powerful AI tools to solve problems and create new markets,” Wood wrote, referring to ARK’s long-term outlook.
Citrini Raises Economic Warning
Her comments followed Citrini Research’s publication of a thought experiment suggesting that agentic AI could disrupt employment and financial markets.
The scenario suggested that unemployment could climb to 10.2%, while the S&P 500 might fall 38% from its October 2026 peak by June 2028.
It also forecasted that early gains in profit margins, earnings growth and stock performance could ultimately slow real wage growth and weaken the broader consumer economy.
Debate Over AI’s Market Impact
The report also argued that autonomous AI agents could reshape traditional business models, including platforms like DoorDash Inc. (NASDAQ:DASH), by prioritizing price optimization and reducing reliance on human-driven marketplaces.
ARK leaders have dismissed the bearish outlook, arguing that large-scale platforms will benefit from AI-driven efficiency and logistics improvements.
Earlier this week, Wood’s ARK Invest executed several high-conviction trades, including the purchase of 33,078 shares of DoorDash, valued at about $5.4 million.
DoorDash reported quarterly earnings of 48 cents per share, falling short of the Wall Street estimate of 60 cents.
Revenue for the quarter totaled $3.96 billion, below the consensus forecast of $3.99 billion, though it rose from $2.87 billion in the year-ago period.
DASH earns a strong Growth rating in Benzinga’s Edge Stock Rankings, though its price trend remains negative across the short, medium and long-term time frames.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image via Shutterstock/ wutzkohphoto
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