Artificial intelligence is developing at a pace Cathie Wood says she has never seen before.
During her recent visit to the GloryHouse Melbourne office, Cathie Wood, Founder, CEO and CIO of ARK Invest, joined Garth Hu, Founder and CEO of GloryHouse Wealth Management, to discuss the technologies reshaping the global economy and what they may mean for long-term investors.
The conversation explores artificial intelligence, robotics, energy storage, blockchain technology and multiomic sequencing—the five innovation platforms ARK believes are converging. Cathie also shares her perspective on econo...
What Cathie Wood said
Written from the verified transcript and checked against it. Every figure links to the moment it was said.
Cathie Wood discussed the macro environment, AI-driven growth, oil prices, and ARK's investment strategy. She attributed rising US 10-year yields to accelerating real GDP growth powered by AI, citing Anthropic's revenue run rate surge from $9 billion to $65 billion in seven months. She predicted oil prices could halve within 6-9 months due to supply increases and transportation electrification. Wood outlined ARK's five converging innovation platforms (AI, robotics, energy storage, blockchain, multiomic sequencing) and projected real GDP growth of 7-8%, calling it conservative. She advised investors to average in, maintain conviction, and trade around volatility, using Tesla as an example. She noted ARKK's revenue and earnings growth outpaced the S&P and Nasdaq last quarter.
Key takeaways
Anthropic's annualized revenue run rate grew from $9 billion in December to $65 billion by July, a sevenfold increase in seven months.
Oil prices could drop by half or more within 6 to 9 months due to supply increases and transportation moving to the grid.
Real GDP growth could accelerate to 7-8% annually, which Wood calls conservative, driven by five converging innovation platforms.
ARKK's revenue and earnings growth rates were twice the S&P's and Nasdaq's, respectively, in Q2 2026.
Wood advises averaging in and trading around volatility, citing Tesla as an example of buying dips and selling strength.
Numbers and commitments
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What it refers to
Type
At
$9 billion
Anthropic's annualized revenue run rate in December
Oh, thank you. I'm honored to be here. I understand you started about a year ago and you're one of the most successful advisors in Australia. So, congratulations.
Thank you. Thank you, Cathy. Maybe let's just go straight to the macro list. Recently the US 10-year yield reached 5%. Middle East worries are growing, inflation is sticky. I was at dinner last weekend and the leader of this large language model talked about slowing down. All this coming together, what's your view about the market, about the macro?
Well, we have a bit of a longer-term perspective, but since you mentioned interest rates first, I'll start there. We're not surprised to see interest rates go up now because it's, we believe, the market working and recognizing that real GDP growth is starting to accelerate in the United States and it is beginning to be powered by a lot of the innovation around which we have centered our research and investing. So I've never seen growth like the growth coming out of AI. And so I'm not sure if your clients know this but Anthropic has released numbers that are quite shocking. So the annualized revenue run rate of Anthropic in December was $9 billion. By July it was $65 billion. So that was up sevenfold. It took in seven months. It took Salesforce.com 25 years to reach that kind of revenue run rate. So we think that AI is speeding up economic growth and if you break the interest rate down between inflation and the real yield, more of the recent upward adjustment has been because of the real yield. And so what that's saying is the bond market is beginning to understand that economic activity is accelerating.
To your point about oil prices, of course we have two wars, Russia, Iran, big energy producers. So a supply disruption and yet we believe we're seeing the early signs that on the other side of this oil prices could drop precipitously. And I think one of the biggest clues we have about that is the UAE in particular Abu Dhabi dropped out of OPEC in May. And having been to Abu Dhabi and having talked to their leaders, they are focused intensively on all of the new technologies coming out and they're trying to shift their economy towards technologically enabled innovation because they see the writing on the wall. They probably will never get more for their reserves oil reserve than they're going to get now. So their production is up to an all-time high 4.1. And I think Venezuela, US, UAE, many many countries are probably going to be pumping oil aggressively to get it out of the ground and maximize the value of their reserves. So we would not be surprised to see the oil price cut in half and maybe even much more than that within the next 6 to 9 months.
That's right. So we believe that transportation is moving onto the grid away from oil. So 57% of all oil produced goes to transportation today. But we see robo taxis going electric, autonomous trucks, drones for delivery both food and other kinds of parcels, air taxis up in there, they're all moving away, moving transportation away from oil onto the grid which is supported by natural gas. So that's a byproduct of oil. But if we're going to need the oil, that'll mean even more supply of oil not necessary out there as we're pulling out the natural gas. Of course hydro, solar, wind, and very importantly nuclear. Nuclear around the world, China I think has 35 very large nuclear plants under construction today.
