Cathie Wood, CEO of Ark Investment Management, has acquired 34,080 shares of Meta Platforms (NASDAQ: META) in recent weeks, amounting to approximately $18.4 million at a share price of $584. This investment aligns with Ark Invest’s strategy of focusing on disruptive technologies, despite Meta’s share price declining 17% over the past year and by more than 9% in 2026.
Meta is expected to spend about $135 billion on AI infrastructure this year, part of a projected collective expenditure of $630 billion by the four major hyperscale companies. Meta’s financial results for the second quarter will be released on July 29, which could significantly impact its stock movement.
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