Cathie Wood: Despite missing out on Nvidia's share price rally, Ark is still well-positioned in AI

Cathie Wood stated that Ark Investment Management is in a favorable position in terms of artificial intelligence assets, despite her company reducing its holdings in Nvidia's stock before its price rose last year. It is reported that Ark invests in artificial intelligence, Tesla, Coinbase, and Robinhood. During a video interview on Thursday, Wood stated that her private fund "has a lot of investments in promising companies." She added that her company still holds Nvidia's stock in more specialized investment portfolios and flagship funds. Wood bought Nvidia's stock in 2014 when the adjusted stock price after the stock split was about $4. The flagship fund ARK Innovation ETF has held the stock until it reached about $400. Before Nvidia's stock price rebounded last year, she sold most of her positions. Meanwhile, Wood defended her bet on Tesla by stating that autonomous driving is "the world's largest artificial intelligence project." In the first quarter of this year, due to concerns about a slowdown in electric vehicle consumption, investors' sentiment towards Tesla cooled down, and Ark increased its holdings in Tesla's stock again. In its analysis for 2023, Ark estimates that Tesla's stock price will reach $2,000 per share in 2027, with bull and bear markets at $2,500 and $1,400 per share, respectively. At the end of May, Ark Venture Fund also disclosed its holdings in Elon Musk's artificial intelligence startup xAI, accounting for about 2% of its holdings. A month ago, the company disclosed its holdings in OpenAI, accounting for about 4% of its total holdings; it also owns shares in Anthropic. (Bloomberg)