2023-06-01 13:22:39
The head of Ark Invest sees greater opportunities in software companies than in chip companies.
(Photo: Reuters)
Düsseldorf Nvidia is the success story of the current stock market year: The share of the chip giant has risen by more than 150 percent since the beginning of the year thanks to the artificial intelligence (AI) boom. Ironically, an AI expert missed the rally: the US fund manager Cathie Wood.
With her flagship fund ARKK, Wood was still invested in Nvidia last year. At the beginning of November, she still owned more than half a million shares worth $72 million. Today the value would be over 190 million. But Wood sold all stocks before the start of the recent rally. Now she thinks the stock is too expensive.
The Handelsblatt evaluated the announcements from your company Ark Invest in May and shows which stocks you are relying on instead. Accordingly, she bought shares worth almost $ 200 million – mainly from three software companies.
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