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International Business Times UK
International Business Times UK
Niloy Chakrabarti

Cathie Wood Sells Nvidia for AMD in Q1 — Trims Tesla Stake After Hailing Musk as 'Thomas Edison of Our Age'

Cathie Wood Tesla Inc. Elon Musk Nvidia AMD Ark Invest United States ARK Andrew Percoco Michael Burry
Cathie Wood became popular after her firm recorded massive gains at the height of the COVID-19 pandemic. (Credit: LinkedIn)

Ark Invest CEO Cathie Wood is popular for her contrarian bets across disruptive industries spanning AI, space exploration, cryptocurrency, and genome development. She gained prominence when Ark ETFs surged in value by over 100% during the COVID-19 pandemic in 2020, outpacing broad market indices considerably.

In Q1, she made considerable changes to Ark's portfolio, with some of the trades standing out. She slashed her firm's stake in Nvidia by 17.4% or around 219,000 shares in the latest quarter. This is despite Nvidia posting record-breaking fiscal Q1 results, assuaging fears of an AI bubble.

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