Options Market Statistics: Target Shares Soar Nearly 18% as Third-Quarter Earnings Blow Past Expectations, Options Pop

Ark Invest's Cathie Wood believes Tesla is the biggest artificial intelligence (AI) player in the world.

Tuesday on CNBC's "Squawk Box," Wood stressed the importance of Tesla's access to proprietary data. Five million robots around the world collect data every day and send it back to Tesla," Wood said, referring to the company's vehicles. Tesla has more corner cases, which means disengagements, accidents, information like that, than all of the other companies in the world combined."

AI relies on data and Tesla has a lot of it. Recent breakthroughs in AI are "astounding," Wood said, adding that as AI advances, we get closer and closer to fully autonomous vehicles.

Target shares gained 18% Wednesday after the big-box retailer posted earnings that blew past analysts' expectations, as a reduction in costs offset continued declines in sales as consumers cut back on discretionary spending.

Net income surged 36% from a year ago to $971 million, or $2.10 per share. That was above the high end of the company's guidance range, and well above the consensus analysts' estimate. Despite this, revenue fell 4.2% from the year-ago quarter to $25.4 billion, driven by a 4.9% decline in comparable store sales.

Most major digital assets surged on Wednesday, in sync with US equity indexes, after the US reported a surprise easing of its producer price inflation in October.

Bitcoin, the largest cryptocurrency by market value, was changing hands at $37,432, up 6.5% in the past 24 hours, after touching a day high of $37,719, data from CoinMarketCap data showed. Trading volume was $26.04 billion, up 5.4%.