Cathie Wood’s Ark Invest adds to positions in Nvidia, SpaceX, and Circle Internet Group despite underperformance in most ETFs.
Ark Invest, led by Cathie Wood, purchased shares of Nvidia (NVDA), Space Exploration Technologies (SPCX), and Circle Internet Group (CRCL) on Wednesday. Only one of Ark’s six actively managed ETFs is outperforming the market this year, with its largest fund in the red year-to-date.
Nvidia, now the sole company with a market cap above $5 trillion, has rallied 33% since its spring low. SpaceX announced it will exclusively use Nvidia chips for space-based data centers, boosting NVDA despite SPCX and CRCL losing over half their value from earlier peaks.
The purchases come as NVDA trades just 10% below its May all-time high, while SPCX and CRCL face significant declines.