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Cathie Wood’s ARKK Dumped Nvidia Stock Before $560 Billion Surge

  • She said chipmaker’s valuation was ‘very high’ in February
  • Wood’s firm holds Nvidia across several of its smaller ETFs
Cathie Wood

Cathie Wood

Photographer: Eva Marie Uzcategui/Bloomberg

Cathie Wood’s flagship exchange-traded fund closed out its Nvidia Corp. stake in early January. Then, came the artificial intelligence frenzy that sent the stock and its big tech peers on a tear.

The chipmaker has added around $560 billion in market capitalization since Wood dumped her shares — with the last $200 billion of that surge coming overnight after the company handily beat earnings.