Cathie Wood said a bull market centered on artificial intelligence (AI) has not ended despite a recent correction in tech stocks.

On Nov. 8 (local time), CNBC reported that Wood, chief executive of Ark Invest, said recent market jitters instead support the case for further gains.

U.S. stocks on Nov. 7 reversed an initial rebound seen after last week's midterm elections and fell sharply. AI-related shares led the decline, pushing the tech-heavy Nasdaq Composite into correction territory. On Nov. 8, tech shares attempted a limited rebound.

Concerns that a Democratic-controlled Congress could slow the pace of data center construction are cited as a factor behind the selling. Across the broader market, volatility has repeatedly increased this year amid caution over AI investment, including capital spending, cash flow, debt and revolving credit issues.

Wood said a "wall of worry" has formed in financial markets. Recalling the technology and telecommunications bubble, she said the mood then was different from now. She said investors were leaning optimistic at the time, but this AI investment cycle has faced questions from the start over costs and the speed of investment.

"The market being uneasy is actually a positive signal," Wood said. "Those factors often point to a bull market, and I do not think this bull market has gone off track." Asked whether the current market is close to the end, she replied, "No."

She cited technological shifts such as AI, robotaxis and AI agents as drivers of gains in technology stocks. Wood said she views the recent pullback as a short-term retreat and that the structural trend remains intact.

She said rising capital costs could be a burden. She said global inflation pressures have risen in the aftermath of the U.S.-Iran war, driving a sharp rise this year in interest rates and government bond yields, while required returns on corporate lending have also increased in credit markets, weighing on technology stocks.

She also highlighted the heavy fixed-cost burden of AI infrastructure investment. In the past, technology companies had low fixed costs and high margins and were not heavily dependent on bond investors, but AI requires large-scale facilities investment, increasing the influence of the bond market, she said. If growth can be accelerated more quickly, she added, changes in interest rates may not be a decisive variable for some companies.

On portfolio strategy, Wood said she is concentrating more on high-conviction stocks in a volatile market. She advised taking some profits during rebounds while keeping capacity to re-enter during sharp declines. She said she has increased the weighting of high-conviction stocks in recent days and also expanded her SpaceX allocation. Wood also said controversy over ground-based data centers could instead create bigger opportunities for space-based data centers.

In performance terms, Wood's flagship fund, the Ark Innovation exchange-traded fund (ETF), rose more than 35 percent in 2025, outpacing gains of 16.4 percent for the S&P 500 and 20.5 percent for the Nasdaq Composite over the same period.

Wood forecast the stock market rally would continue into 2027. She said post-election swings are a process of taking two steps forward and one step back, and that by 2027 the reality of the technology revolution would become clearer.