30% of Cathie Wood's Portfolio Is Invested in These 5 Artificial Intelligence (AI) Stocks
Ark Investment Management is going all in on AI.
Overview
Many of the most famous names on Wall Street are actively looking to capitalize on the fast-growing artificial intelligence (AI) industry. Cathie Wood, the CEO of Ark Investment Management, is perhaps one of the most bullish on AI. Most of the firm's top 10 holdings -- when aggregated across its entire family of ETFs -- are companies whose prospects are increasingly tied to AI. And five of them make up about 30.4% of Ark Investment's portfolio: Tesla (NASDAQ: TSLA), Space Exploration Technologies (NASDAQ: SPCX), Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL), Advanced Micro Devices (NASDAQ: AMD), and Amazon (NASDAQ: AMZN). Is Cathie Wood right to be betting big on these AI companies?
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Given Ark Investment's focus on innovative platforms, it's not surprising that the firm holds shares in companies led by Elon Musk, a leader in pushing disruptive technological innovation. Tesla is Ark Investment's largest holding, with SpaceX not too far behind at number four. They account for 9.73% and 4.28% of the firm's holdings, respectively, as of writing. AI is central to both companies' prospects.
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Originally published at www.fool.com.