Cathie Wood Buys The Nvidia Dip Amid Panic Over Stargate Project: Ark Swoops Up $2 Million Worth Of Hot AI Stock
Cathie Wood's Ark Invest purchased 11,973 shares of NVIDIA Corp for approximately $1.99 million amid concerns over the Stargate AI project delays. This acquisition was made through the ARK Space Exploration & Innovation ETF (ARKX) as NVIDIA's stock faced a decline. Other trades included buying Illumina Inc shares and selling Guardant Health Inc, Komatsu Ltd, and Rocket Lab USA Inc shares. Despite the uncertainty, Nvidia remains a trending investment opportunity according to Benzinga's Edge Stock Rankings.
On Tuesday, Cathie Wood‘s Ark Invest made a notable move by purchasing shares of NVIDIA Corp NVDA amid concerns surrounding a significant AI project.
The Nvidia Trade
Ark Invest acquired 11,973 shares of the Jensen Huang-led company through its ARK Space Exploration & Innovation ETF ARKX. The purchase was valued at approximately $1.99 million, calculated using NVIDIA’s latest closing price of $167.03. This move comes amidst a backdrop of uncertainty for NVIDIA, as the company’s stock experienced a decline following reports of delays in the Stargate AI venture. The project, a joint effort with SoftBank and OpenAI, has scaled back its near-term goals, raising investor concerns.
Other Key Trades:
- Illumina Inc (ILMN): Ark Invest’s ARKG ETF purchased 31,265 shares.
- Guardant Health Inc (GH): Ark Invest’s ARKG ETF sold 68,228 shares.
- Komatsu Ltd: Ark Invest’s ARKX ETF sold 63,807 shares.
- Rocket Lab USA Inc (RKLB): Ark Invest’s ARKX ETF sold 43,481 shares.
Trending Investment Opportunities
Benzinga’s Edge Stock Rankings show that Nvidia checks out on Short, Medium and Long Price Trend. Here is how the stock ranks on other metrics.
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This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal
