Cathie Wood Can Only Watch as Nvidia Rides AI Wave She Foresaw
- ARK’s flagship fund hasn’t held Nvidia shares since early 2023
- Money manager says it expects AI-fueled gains to broaden
Cathie Wood
Photographer: Alex Flynn/BloombergThis article is for subscribers only.
Cathie Wood made a wild prediction almost two years ago: Annual economic growth could accelerate to as much as 50%, thanks to breakthroughs in the world of artificial intelligence.
Yet as the AI frenzy intensifies across Wall Street thanks to Nvidia Corp.’s stellar earnings report, Wood’s flagship ARK Innovation ETF (ticker ARKK) is missing out in epic fashion — down nearly 8% so far this year.