經過將近三年的特定部門特定放緩，凱西·伍德（Cathie Wood）看到了經濟穩定的跡象並更新了擴張

方舟投資首席執行官凱西·伍德（Cathie Wood

Ark Invest CEO Cathie Wood continues to see the US economy transitioning out of a prolonged "rolling recession" and entering a new era of productivity-led growth, powered by advances in AI, digital assets, and automation.

方舟投資首席執行官凱西·伍德（Cathie Wood）繼續看到美國經濟從長期的“滾動衰退”中過渡，並進入了以AI，數字資產和自動化的進步為動力的生產率領導增長的新時代。

As reported by Bloomberg, in a recent interview, Wood highlighted the unique nature of the economic downturn, characterized by sector-specific slowdowns in response to tighter monetary policy. However, after nearly three years of this downturn, she now observes signs of stabilization and expansion.

正如彭博社報導的那樣，伍德在最近的一次採訪中強調了經濟低迷的獨特性質，其特徵是針對更嚴格的貨幣政策，特定於部門的放緩。但是，經過近三年的衰退，她現在觀察到穩定和擴張的跡象。

This outlook stands in contrast to the broader market downturn, which has seen several prominent hedge fund managers like Stanley Druckenmiller and Paul Tudor Jones express bearishness.

這種展望與更廣泛的市場下滑相反，後者看到了一些著名的對沖基金經理，例如斯坦利·德魯肯米勒（Stanley Druckenmiller）和保羅·鐸·瓊斯（Paul Tudor Jones）表達了看跌。

The Ark Invest CEO's predictions are based on her observations of a structural transformation unfolding in both the public and private sectors, fueled by generative AI and machine learning. These technologies are reducing labor intensity in knowledge-based industries, compressing project timelines, and ultimately freeing up human capital for higher-value tasks.

方舟投資首席執行官的預測是基於她對公共和私營部門進行結構轉型的觀察，並在生成的AI和機器學習中推動了。這些技術正在減少基於知識的行業的勞動力，壓縮項目時間表，並最終釋放人力資本以完成高價值任務。

For instance, Wood cited developments at the US Food and Drug Administration, where AI models have been able to condense multi-day workflows into mere minutes, showcasing a step change in government productivity.

例如，伍德引用了美國食品和藥物管理局的發展，在那裡，AI模型能夠將多天的工作流程凝結到僅幾分鐘之內，從而展示了政府生產力的逐步變化。

Similar efficiencies are being realized across finance, legal, logistics, and healthcare, as AI rapidly integrates into the core operations of these industries.

隨著AI迅速融入這些行業的核心運營，在金融，法律，物流和醫療保健中也實現了類似的效率。

This surge in digital productivity will not only serve as a deflationary force, keeping inflation in check even as growth resumes, but it will also keep corporate margins in good standing.

數字生產力的激增不僅將充當通貨膨脹，即使在恢復增長的情況下，也可以保持通貨膨脹，而且還將使公司利潤保持良好的信譽。

In the usual cycle, we're used to seeing either inflation or growth, but not both. But this time, thanks to the productivity gains that we're seeing in the private sector translate into lower prices, both are possible.

在通常的周期中，我們習慣於看到通貨膨脹或增長，但並非兩者兼而有之。但是這一次，由於我們在私營部門看到的生產力提高到了較低的價格，這兩者都是可能的。

Furthermore, Wood highlighted the implications of this new growth phase, which will be fundamentally different from the previous cycles driven by consumption or credit. Instead, this phase is rooted in tangible efficiency gains.

此外，伍德強調了這個新增長階段的含義，這將與消費或信貸驅動的先前週期根本不同。相反，此階段植根於有形效率的提高。

With the U.S. entering a new investment climate—low inflation expectations converging with rapid innovation—the time for long-duration capital is now.

隨著美國進入新的投資氛圍 - 高低的通貨膨脹期望與快速創新融合在一起，現在是長期資本的時間。

At the center of Ark's optimistic outlook is Bitcoin (BTC), which the firm continues to view as a transformative financial asset. The firm maintains a long-term price target of up to $1.5 million per coin.

在方舟樂觀前景的中心是比特幣（BTC），該公司繼續將其視為變革性的金融資產。該公司的長期目標價為每枚硬幣150萬美元。

This bullish projection is underpinned by several factors, including growing institutional participation in the cryptocurrency market, Bitcoin's role as a digital store of value in a macroeconomic environment characterized by currency instability, and the potential for sovereign Bitcoin funds in countries like China, India, and Russia.

這一看漲的預測是基於幾個因素的基礎，包括在加密貨幣市場中的機構參與不斷增加，比特幣作為以貨幣不穩定為特徵的宏觀經濟環境中的數字存儲，以及在中國，印度和俄羅斯等國家 /地區在諸如中國，印度和俄羅斯等國家的主權比特幣基金的潛力。

Another key holding in Ark's portfolio is Tesla, with a five-year price target of $2,600 per share for the electric vehicle maker. This projection is linked to the expected commercialization of autonomous ride-hailing fleets and advances in autonomous driving technology.

特斯拉（Tesla）是方舟投資組合中的另一個關鍵持有，五年目標目標為每股2,600美元的電動汽車製造商。該預測與自動乘車艦隊的預期商業化以及自動駕駛技術的進步有關。

"We get into the robotics division, which we think is largely untapped potential, and we come up with a global opportunity in humanoid robots of about $40 trillion."

“我們進入了機器人部門，我們認為這在很大程度上沒有開發的潛力，我們在大約40萬億美元的人形機器人中提出了全球機會。”

In concluding her thoughts, Cathie Wood emphasized that Tesla stands apart with its simultaneous advancement of three critical technology verticals: robotics, AI, and energy systems, ultimately giving it a strategic lead in global innovation.

在總結她的想法時，凱西·伍德（Cathie Wood）強調，特斯拉（Tesla）同時發展了三個關鍵技術垂直行業的依靠：機器人技術，AI和能源系統，最終使其在全球創新中成為戰略性的領導。

Finally, Ark has been increasing its stakes in semiconductor and biotech companies that align with long-term technological trends.

最後，方舟一直在增加與長期技術趨勢保持一致的半導體和生物技術公司的股份。

In the final analysis, it seems that Cathie Wood is anticipating a broader shift from economic stagnation toward a phase defined by exponential innovation, scalable productivity, and sustainable growth.

最終的分析，看來凱西·伍德（Cathie Wood）預計從經濟停滯轉向由指數創新，可擴展生產率和可持續增長所定義的階段發生了更大的轉變。

Only time will tell whether her predictions will come to pass.

只有時間才能說明她的預測是否會通過。