Nvidia Boosted by Ark Invest’s Significant Purchases Ahead of Earnings
Nvidia (NASDAQ: NVDA) is set to report its second-quarter results on August 26, with analysts projecting a revenue growth of over 90%. Ark Invest’s Cathie Wood has recently increased her stake in Nvidia by 24%, totaling $303.6 million, through purchases amounting to $59.9 million across five ETFs over three trading days earlier this month.
Wood’s purchases included $30.2 million in the Ark Innovation ETF and $12 million in the Ark Next Generation Internet ETF. The total shares held in Nvidia by Ark Invest encompass around 1.4 million shares across multiple funds. Analysts anticipate that Nvidia’s strong performance will continue, fueled by significant investments in AI infrastructure from major tech companies, which are projected to surpass $730 billion this year alone.
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