Cathie Wood's Ark Invest Purchases $47 Million in Nvidia Shares Amid Tech Sell-Off
Cathie Wood, head of Ark Investment Management, has increased her position in Nvidia (NVDA) by purchasing 252,592 shares, valued at approximately $47 million. The acquisition occurred during a period of significant volatility where technology stocks faced a sharp decline, including an instance where Nvidia plunged more than 9%. Despite the recent downturn in her flagship Ark Innovation ETF (ARKK), which is down 3.12% year-to-date compared to the S&P 500's 7.81% gain, Wood remains bullish on artificial intelligence. She views AI as a critical driver for corporate productivity and profit margins, positioning the recent market dip as an opportunity to accumulate shares in leading semiconductor companies.
Topics: AI semiconductor stocks Ark Invest ETF trading activity Nvidia