Cathie Wood Says ARK Has Moved Beyond Nvidia as ‘Obvious’ AI Buy
- Wood says firm has “re-allocated” into other AI plays
- ARKK dumped Nvidia stock in early January before massive surge
Cathie Wood
Photographer: Kyle Grillot/BloombergThis article is for subscribers only.
Cathie Wood said Nvidia Corp. is now an “obvious” artificial intelligence bet, and she’s buying up shares of other companies that can capture more upside from the potentially transformative technology.
The chief executive officer and founder of ARK Investment Management gained unwanted attention after closing out her flagship ARK Innovation ETF’s (ticker ARKK) Nvidia position back in January, missing the bulk of this year’s blistering rally. Now, Wood says, the chipmaker has “taken off,” leaving many other companies that will be huge beneficiaries of AI behind.