As the artificial intelligence (AI) revolution rolls on, one company that has been leading the juggernaut is Nvidia (NVDA). The trillion-dollar chip designer has been at the forefront of the AI frenzy, and its quarterly earnings report tonight is expected to move not just the wider semiconductor industry, but the entire stock market. So, when Nvidia makes a $76 million investment* into just one small company, growth-minded investors sit up and take notice.
And while the tech titan's investments into a couple of smaller AI chip stocks dominated the headlines, Nvidia's $76M bet outside the semiconductor space is notable for another reason - the Jensen Huang-led company made this huge investment in a stock that's also held by the flagship fund of maverick investor Cathie Wood. In fact, NVDA's betting almost as big as Cathie, given that Wood's ARK Innovation ETF (ARKK) owns just 13.5 million shares at a current market value of about $170.3 million.
