Cathie Wood's ARK Invest makes $437 million in trades, buying Nvidia and SpaceX
ARK Invest bought shares of Nvidia, SpaceX, Advanced Micro Devices and Alphabet during a tech rout.
The short version
- The firm sold major positions in Broadcom and CoreWeave.
- Check your index funds and tech holdings for exposure to Nvidia and Alphabet.
When other investors fled the market, Cathie Wood, the head of ARK Invest, rushed toward the fire. On Thursday, her firm made $437 million in trades, buying up a raft of tech stocks despite a sectorwide rout, according to Investor's Business Daily.
ARK Invest scooped up shares of Nvidia, the chipmaker; SpaceX, the private rocket company; Advanced Micro Devices, the chip manufacturer; and Alphabet, which owns Google. At the same time, the firm sold huge positions in Broadcom, the infrastructure software maker, and CoreWeave, the cloud computing provider.
The moves show a bold bet on artificial intelligence leaders while trimming other big tech names. For anyone holding index funds with heavy tech weight, these massive portfolio shifts happen behind the scenes every week. Keep an eye on how these high-flying tech giants swing your portfolio numbers.
Photo: Caroline Wood, CC BY-SA 4.0, via Wikimedia Commons, edited
Figures as reported by Investor's Business Daily.
