经过将近三年的特定部门特定放缓，凯西·伍德（Cathie Wood）看到了经济稳定的迹象并更新了扩张

方舟投资首席执行官凯西·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.

方舟投资首席执行官凯西·伍德（Cathie Wood）继续看到美国经济从长期的“滚动衰退”中过渡，并进入了以AI，数字资产和自动化的进步为动力的生产率领导增长的新时代。

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.

正如彭博社报道的那样，伍德在最近的一次采访中强调了经济低迷的独特性质，其特征是针对更严格的货币政策，特定于部门的放缓。但是，经过近三年的衰退，她现在观察到稳定和扩张的迹象。

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.

这种展望与更广泛的市场下滑相反，后者看到了一些著名的对冲基金经理，例如斯坦利·德鲁肯米勒（Stanley Druckenmiller）和保罗·铎·琼斯（Paul Tudor Jones）表达了看跌。

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.

方舟投资首席执行官的预测是基于她对公共和私营部门进行结构转型的观察，并在生成的AI和机器学习中推动了。这些技术正在减少基于知识的行业的劳动力，压缩项目时间表，并最终释放人力资本以完成高价值任务。

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，伍德引用了美国食品和药物管理局的发展，在那里，AI模型能够将多天的工作流程凝结到仅几分钟之内，从而展示了政府生产力的逐步变化。

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

随着AI迅速融入这些行业的核心运营，在金融，法律，物流和医疗保健中也实现了类似的效率。

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.

数字生产力的激增不仅将充当通货膨胀，即使在恢复增长的情况下，也可以保持通货膨胀，而且还将使公司利润保持良好的信誉。

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，我们习惯于看到通货膨胀或增长，但并非两者兼而有之。但是这一次，由于我们在私营部门看到的生产力提高到了较低的价格，这两者都是可能的。

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，伍德强调了这个新增长阶段的含义，这将与消费或信贷驱动的先前周期根本不同。相反，此阶段植根于有形效率的提高。

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

随着美国进入新的投资氛围 - 高低的通货膨胀期望与快速创新融合在一起，现在是长期资本的时间。

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.

在方舟乐观前景的中心是比特币（BTC），该公司继续将其视为变革性的金融资产。该公司的长期目标价为每枚硬币150万美元。

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.

这一看涨的预测是基于几个因素的基础，包括在加密货币市场中的机构参与不断增加，比特币作为以货币不稳定为特征的宏观经济环境中的数字存储，以及在中国，印度和俄罗斯等国家 /地区在诸如中国，印度和俄罗斯等国家的主权比特币基金的潜力。

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）是方舟投资组合中的另一个关键持有，五年目标目标为每股2,600美元的电动汽车制造商。该预测与自动乘车舰队的预期商业化以及自动驾驶技术的进步有关。

"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."

“我们进入了机器人部门，我们认为这在很大程度上没有开发的潜力，我们在大约40万亿美元的人形机器人中提出了全球机会。”

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.

在总结她的想法时，凯西·伍德（Cathie Wood）强调，特斯拉（Tesla）同时发展了三个关键技术垂直行业的依靠：机器人技术，AI和能源系统，最终使其在全球创新中成为战略性的领导。

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

最后，方舟一直在增加与长期技术趋势保持一致的半导体和生物技术公司的股份。

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.

最终的分析，看来凯西·伍德（Cathie Wood）预计从经济停滞转向由指数创新，可扩展生产率和可持续增长所定义的阶段发生了更大的转变。

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

只有时间才能说明她的预测是否会通过。