Cathie Wood is making another bold move in the tech world. The Ark Invest CEO and chief investment officer, known for placing big bets on disruptive and innovative technology stocks, made two strikingly different trades this week. ARK bought 43,091 shares of Meta Platforms (META) worth about $27.9 million across the ARK Innovation ETF (ARKK) and ARK Next Generation Internet ETF (ARKW). At the same time, it sold 84,392 Alphabet (GOOG) (GOOGL) shares worth roughly $27.8 million through the same ETFs.
In other words, Wood is putting fresh money behind Meta while stepping back from Google parent Alphabet. And the timing is hard to ignore. Meta shares have climbed to their highest level in two months, riding a wave of excitement around the company’s latest artificial intelligence (AI) moves. Earlier this week, Meta officially launched Muse, an autonomous personal AI assistant powered by the Muse Spark 1.3 foundation model and developed by Meta Superintelligence Labs (MSL).
