Milk Road AI The Most Underestimated AI Market Heading Into 2026 w/ ARK Invest
13 snips
Jan 7, 2026 
Frank Downing and Nicholas Grous from ARK Invest delve into the underappreciated AI market set to thrive by 2026. They discuss the sustainability of AI growth, addressing concerns about market bubbles and pricing. The conversation highlights consumer AI competition, particularly between ChatGPT and Gemini, and explores the potential of personal assistants in shopping. They predict a staggering $9 trillion market in AI-assisted shopping by 2030 and emphasize the transformative role of AI in life sciences and genomics.
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AI Is Early And Broadly Transformative
- AI is still in the early days and is a general-purpose technology comparable to the internet.
- Nicholas Grous expects every company will become an AI company as the tech permeates all sectors.
Judge Valuations By Forward Growth
- Compare current tech multiples to past bubbles and focus on forward growth rather than headline fear.
- Frank Downing recommends assessing valuations in historical context before declaring a bubble.
Venture Talks Reveal Strong Demand
- ARK's venture fund invests in private AI companies and talks directly with founders like OpenAI's CFO.
- Frank Downing shares that demand is so strong companies often can't fulfill revenue due to compute constraints.
