Investing Update: Cathie Wood’s Recent AI Stock Moves
Cathie Wood, CEO of Ark Invest, made notable trades on March 26, 2023, involving several major AI stocks within her Ark Innovation fund. Wood sold 4,189 shares of Alphabet, 5,707 shares of Broadcom, 15,696 shares of Taiwan Semiconductor Manufacturing, 28,927 shares of Advanced Micro Devices (AMD), 120,936 shares of Nvidia, and 60,348 shares of Meta Platforms. Despite these significant reductions, AMD remains a top 10 holding in her fund with a 4% weighting, while other sold stocks account for 1.3% or less.
Wood’s investment strategy focuses on identifying promising companies during market downturns, hoping to capitalize on their growth over the long term. Recently, she increased her position in CoreWeave by purchasing 41,830 shares, signaling her continued belief in the AI sector despite her cuts to other AI leaders. This move comes as part of her broader strategy of “bargain hunting,” especially as innovation-heavy stocks face market corrections.
