Cathie Wood Buys The Nvidia Dip Amid Panic Over Stargate Project: Ark Swoops Up $2 Million Worth Of Hot AI Stock
On Tuesday, Cathie Wood‘s Ark Invest made a notable move by purchasing shares of NVIDIA Corp (NASDAQ:NVDA) amid concerns surrounding a significant AI project.
The Nvidia Trade
Ark Invest acquired 11,973 shares of the Jensen Huang-led company through its ARK Space Exploration & Innovation ETF (BATS:ARKX). The purchase was valued at approximately $1.99 million, calculated using NVIDIA’s latest closing price of $167.03. This move comes amidst a backdrop of uncertainty for NVIDIA, as the company’s stock experienced a decline following reports of delays in the Stargate AI venture. The project, a joint effort with SoftBank and OpenAI, has scaled back its near-term goals, raising investor concerns.
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Other Key Trades:
- Illumina Inc (ILMN): Ark Invest’s ARKG ETF purchased 31,265 shares.
- Guardant Health Inc (GH): Ark Invest’s ARKG ETF sold 68,228 shares.
- Komatsu Ltd: Ark Invest’s ARKX ETF sold 63,807 shares.
- Rocket Lab USA Inc (RKLB): Ark Invest’s ARKX ETF sold 43,481 shares.
Benzinga’s Edge Stock Rankings show that Nvidia checks out on Short, Medium and Long Price Trend. Here is how the stock ranks on other metrics.
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Photo Courtesy: Ira Lichi On Shutterstock.com
This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal
