Cathie Wood: AI and new technologies are ushering in a productivity cycle, while the inflation narrative is undermined by data.

Shenchao TechFlow News, June 30 - Ark Invest founder Cathie Wood stated in a post that current macroeconomic data continues to weaken market concerns about "resurgent inflation," and the economy is more likely to be in a new cycle driven by productivity improvements, rather than an inflationary environment similar to the 1970s.

Currently, US productivity growth is about 3%, unit labor costs are about 0.5%, and Truflation's core CPI is near 1.3%, all indicating that inflationary pressures are at low levels. Although employment data remains strong, the market has still experienced a pullback, reflecting investors' sensitivity to interest rates and macro risks. This structure is closer to the market environment of the 1980s to 1990s, where amidst a continuous "wall of worry," technological innovation and productivity improvements drove long-term asset prices higher.

Cathie Wood emphasized that the core drivers of the current cycle are still in their early stages, including technologies such as artificial intelligence (AI), robotics, autonomous driving, and multiomics. Their impact on productivity has not yet been fully reflected in economic data. She still believes that the current market is in an early expansion phase similar to historical technology cycles, and stressed that technological innovation will be a major source of long-term economic growth.