Cathie Wood's Ark Invest has bought more shares of Nvidia after the AI chipmaker slipped sharply in recent sessions, showing renewed confidence in one of the biggest names in the artificial intelligence trade. Ark Invest bought 78,965 Nvidia shares across its five largest exchange-traded funds, according to multiple media reports. The purchase was worth about $15.5 million, based on Nvidia's closing price that day.
The buying came after Nvidia shares fell more than 6% over the past five trading days. The stock is also down about 17% from its mid-May high, even though the company continues to report strong growth from artificial intelligence demand.
