Ark Invest CEO Cathie Wood disclosed via a tweet today that her firm is consistently capitalizing on gains from NVIDIA (NASDAQ:NVDA), amidst a booming rally in artificial intelligence. Wood has been strategically reducing her firm’s stake in the semiconductor giant, following its stock price soaring by over 200% in 2023.
Wood explained that Ark Invest initially purchased Nvidia shares in 2014 at $5 each, at a time when the broader investment community primarily viewed Nvidia as a company focused on PC gaming chips.
With Nvidia’s stock experiencing more than a 150-fold increase since then, Wood expressed her firm’s ongoing strategy to realize profits, acknowledging Nvidia’s pivotal role in enabling the success of other companies that are now building on its groundbreaking achievements.