Cathie Wood: The midterm elections will not hinder the AI revolution, and economic growth is stronger than most investors expect

ARK Invest founder Cathie Wood stated that she does not believe the results of the U.S. midterm elections will hinder the AI revolution. She believes that the uncertainty in the market is understandable, but the economy is on a stronger growth trajectory than most investors realize.

She noted that the stock market began to factor in the possibility of an extended war in Iran and expectations of a Democratic sweep in the elections as early as May and June, and the rise in oil and gasoline prices has also increased the cost of living pressure on consumers. Voters concerned about household finances made the congressional election results appear more conservative than the headlines suggested.

Cathie Wood expects that data center construction companies will pay more attention to local community concerns and provide and highlight more community benefits, including lowering property taxes, increasing high-paying jobs, promoting commercial development, and funding schools and cultural facilities.

She stated that the productivity gains brought by AI are accelerating and expects these benefits to translate into higher wages, stronger profit margins, more investment, and lower prices, helping to alleviate cost of living pressures. The market is currently only beginning to experience the impact of this technological revolution.