Cathie Wood’s ARK Invest recently capitalized on a market sell-off by acquiring additional shares of Nvidia and Broadcom, reflecting a strong belief in the long-term growth of AI infrastructure. On August 10, ARK’s funds collectively purchased 122,422 shares of Nvidia, valued at approximately $27 million, along with 39,020 shares of Broadcom for around $16.5 million. Despite limited performance so far this year compared to the S&P 500, Wood is betting on rising AI spending, projected to reach $1.5 trillion by 2030.
Nvidia continues to show robust performance, with a revenue increase of 92% year-over-year last quarter, targeting full-year revenue of $393 billion. Broadcom is also poised for significant growth in AI chip sales, expecting to generate $56 billion by fiscal 2026, with potential for that figure to surpass $100 billion the following year. Both companies are key players in the burgeoning market for custom AI chips, defined as application-specific integrated circuits (ASICs).
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