ARK Innovation ETF rises sharply, Cathie Wood views its top holding Tesla as ‘most obvious beneficiary’ of recent AI breakthroughs

Cathie Wood’s ARK Innovation ETF rose sharply Tuesday, as shares of its largest holding Tesla Inc. jumped and technology stocks rallied amid ongoing investor enthusiasm over artificial intelligence.

The ARK Innovation ETF ARKK, an exchange-traded fund that targets disruptive innovation as an investment theme, closed 1.8% higher Tuesday, outpacing the tech-heavy Nasdaq Composite index’s COMP 0.3% rise, according to FactSet data.

But…