Artificial intelligence (AI) is all the rage on Wall Street these days -- and much of the excitement has rightfully centered around leading semiconductor companies. Nvidia's blockbuster first-quarter results and forward guidance have spurred huge gains for its share price and helped trigger an upswing in bullish momentum across the broader market, but Ark Invest CEO Cathie Wood believes that the biggest AI investing opportunity actually lies in software right now. 

In a May 31 interview with Bloomberg TV, Wood said that here company was looking beyond semiconductor stocks when it comes to capitalizing on revolutionary AI trends. Based on statements in the interview and comments made earlier in the week, Ark's CEO believes that valuations for top AI chip stocks have gotten stretched to unfavorable levels.

Instead, Wood believes that top software-as-a-service companies with significant AI components present the best buying opportunities right now -- and the influential growth investors singled out four stocks in particular that could see powerful benefits. 

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Source Fool.com