Cathie Wood Challenges Ackman Inflation Warning, Citing 99.99% Annual Drop in AI Inference Costs

ARK Invest CEO Cathie Wood has pushed back on Bill Ackman's warning that AI spending could make higher interest rates inflationary, arguing that the 10-year Treasury yield is near a long-run historical midpoint and that AI inference costs are collapsing fast enough to exert deflationary pressure. In ARK's October *In The Know* commentary, Wood framed the 1970s through the 1990s as the outlier period for U.S. rates, not 2026, and tied her macro view to a claimed 99.99% annual decline in the cost of running AI models at a fixed performance level.