Cathie Wood, the CEO and founder of ARK Investment Management, recently shared that her firm has shifted away from Nvidia as a prominent artificial intelligence (AI) investment. Instead, they have reallocated their investments into other companies involved in AI. Wood closed out her firm’s position in Nvidia in January, when she believed that the chipmaker had reached its full potential. However, she now recognizes that Nvidia has continued to perform exceptionally well, but there are other companies with significant growth potential in the AI sector. As a result, Wood has started purchasing shares of these companies, which she believes can benefit greatly from the transformative power of AI technology. (Possibly AMD?Intel?)
