Cathie Wood’s ARK Buys Nvidia Shares for First Time Since August

Cathie Wood's ARK Investment Management has made headlines by purchasing shares of CoreWeave, a cloud infrastructure company backed by Nvidia, amidst a significant downturn in its stock price following a revised sales outlook. This acquisition comes as CoreWeave faces challenges in the AI market, which has recently seen volatility due to investor concerns about an AI bubble.

Nvidia Corp.'s recent earnings report, which exceeded Wall Street's expectations, failed to alleviate investor concerns about a potential bubble in artificial intelligence stocks, leading to a continued decline in market confidence. Despite reporting record earnings, the anticipated calming effect on the market did not materialize.

Cathie Wood's ARK Investment Management has sold its shares in GitLab while continuing its bullish investment strategy by acquiring shares of Nvidia Corp. for the first time since August. This decision reflects a shift in focus towards companies that align with ARK's growth-oriented investment philosophy.

Cathie Wood's ARK Investment Management has purchased shares of Nvidia Corp. for the first time since August, following the company's strong Q3 earnings report. This acquisition reflects ARK's positive outlook on Nvidia's performance in the semiconductor sector, particularly in artificial intelligence.