Cathie Wood’s firm adds 34,080 META shares as tech giants ramp up $630 billion in AI infrastructure spending this year.
Ark Investment Management purchased 34,080 shares of Meta Platforms at roughly $584 each, totaling $18.4 million. The move follows a broader trend of tech giants increasing investments in AI infrastructure, with Meta allocating $135 billion this year, up from $72 billion in 2025.
Meta’s stock has declined 17% over the past year and over 9% in 2026, as investors question the returns on massive AI spending. The company is part of the “Magnificent Seven” mega-cap tech stocks, which have seen stagnation amid concerns over profitability.
Meta will report second-quarter earnings on July 29, with investors closely watching guidance on AI spending and returns. The purchase suggests confidence in Meta’s long-term growth despite near-term volatility.