Cathie Wood's ARK Bought $40 Million of Nvidia, Tesla, and SpaceX During Last Month's AI Sell-Off. Was She Right to Buy the Dip?
Wood is a huge fan of these industry leaders.
Overview
Cathie Wood, the CEO of Ark Investment Management, is a believer in the power of innovation to enable companies to deliver outstanding returns. That's why her investment firm continues to buy shares of companies that lead transformative industries such as artificial intelligence (AI), electric vehicles (EVs), and space travel. And on July 28, Ark Investment Management bought almost $40 million worth of shares of Nvidia (NASDAQ: NVDA), Tesla (NASDAQ: TSLA), and Space Exploration Technologies (NASDAQ: SPCX), as all three stocks were dropping. Was that a good move?
Image source: Getty Images.
Let's start with Nvidia. Driven by its dominance in the GPU (Graphics Processing Unit) market, the company's revenue has been growing rapidly for the better part of four years. In the first quarter of its fiscal year 2027, ended April 2026, Nvidia reported revenue of $81.6 billion, up 85% year over year. The company's adjusted earnings per share (EPS) came in at $1.87, up 140% from the year-ago period.
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Originally published at www.fool.com.