Better late than never.
Cathie Wood fashions her Ark Invest empire as being ahead of the curb, but this time One of Ark's funds is a little late to the party.
Ark Next Generation Internet ETF (ARKW) purchased 40,957 shares in Microsoft (MSFT) this week worth over $11 million, based on the stock's closing price of $272.23 on Monday.
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Ark's 3D printing-focused fund already owns Microsoft shares, but this is the first time the Internet ETF has snapped up any shares of the legacy technology company.
Microsoft's investment in OpenAI and its ChatGPT artificial intelligence product seems to have caught Wood's eye.
Microsoft shares are up about 13% year to date.
Business Insider points out that Wood has been down on the Nasdaq 100, saying that the tech heavy index is no longer disruptive enough.
"We are the new Nasdaq," Wood said about her own funds in contrast to the Nasdaq. "Look through [the Nasdaq] now, you will not find the kind of disruptive innovation, it certainly doesn't dominate those indexes."
"Innovation was one of the biggest victims of the massive interest rate increase we saw last year. It was like an earthquake."
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