Cathie Wood Defends ARKK’s Decision to Dump Nvidia, Citing Chip-Cycle Risks

Bloomberg05-27

ARKK ditched chipmaker before a 160% surge added $500 billionFund manager says Meta’s pivot to AI ‘interesting to us’Cathie Wood defended her firm’s decision to bail on Nvidia Corp. before the ...

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Sunshinekim
05-29
Sunshinekim
I agtee. The bubble may burst after a euphoria.

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Nvidia jumped 24% Thursday alone after forecasting $11 billion in sales this quarter, 53% more than analysts expected.“As far as Nvidia goes, there are a few reasons we take some pause,” Wood said in an interview on Bloomberg TV. She said when she hears, “shortages, shortages, shortages about GPUs or anything, I begin to think about the cyclicality of a group.” Nvidia also faces growing competition in the battle to produce chips to power the computing infrastructure behind artificial intelligence programs, Wood said, citing companies like Tesla Inc., Meta Platforms Inc., and Alphabet Inc. that are developing their own chips.ARKK Missed Out on Nvidia's Gains | Wood's flagship fund dropped Nvidia, missing out on stock's gainsWhile Wood’s flagship fund dropped its holdings to Nvidia, some of the firm’s “more specialized portfolios,” including the ARK Next Generation Internet ETF (ARKW) and the ARK Fintech Innovation ETF (ARKF), still retain some exposure to the company.“We have not gotten much pushback,” she said regarding the decision to drop Nvidia, which she describes as “a check-the-box stock.”ARKK has climbed 25.2% so far this year, outpacing the S&P 500’s 9.5% gain. The Nasdaq 100 Index that houses the megacap tech companies that have powered the market’s gains in 2023 is up more than 30%.Nvidia has been one of the main beneficiaries of the AI boom, seeing its sales surge on demand for chips. Marvell Technologies Inc. rallied 29% Friday after saying its revenue from AI products would double in the current fiscal year. ARKK holds neither.“We’re just pivoting to another set of plays that most people have not discovered yet,” Wood said. “Much like they did not understand that Nvidia was an AI play, really, until very recently.”Wood said Meta’s strategy of focusing on AI was good, although the company does not appear in the firm’s flagship portfolio.Meta’s LLaMA AI language model is “able to deliver better models” using less computing power and more data, she said.“Meta is interesting to us,” she said, adding that she likes “the fact that Mark Zuckerberg is now prioritizing artificial intelligence as opposed to the metaverse, which was really what he was focused on last year.”Most Read from Bloomberg BusinessweekSergey Brin Has a Secret Plan to Put Airships Back in the SkiesAdidas After YeezyThere’s Still Scary Stuff in SunscreenTrump’s Grip on the GOP Tightens as the Field WidensThe Man Who Spends $2 Million a Year to Look 18 Is Swapping Blood With His Father and Son©2023 Bloomberg L.P.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null},"commentList":[{"id":9979055920,"gmtCreate":1685327019261,"gmtModify":1685327023031,"author":{"id":"4108879863251380","authorId":"4108879863251380","name":"Sunshinekim","avatar":"https://community-static.tradeup.com/news/4aa06f704f2b302b4af731a1567add49","vip":1,"crmLevel":4,"crmLevelSwitch":0},"htmlText":"I agtee. The bubble may burst after a&nbsp; euphoria.&nbsp;","listText":"I agtee. The bubble may burst after a&nbsp; euphoria.&nbsp;","text":"I agtee. The bubble may burst after a euphoria.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/m/post/9979055920","repostId":2338104877,"repostType":4,"repost":{"id":"2338104877","pubTimestamp":1685143500,"share":"https://www.laohu8.com/m/news/2338104877?lang=&edition=full","pubTime":"2023-05-27 07:25","market":"us","language":"en","title":"Cathie Wood Defends ARKK’s Decision to Dump Nvidia, Citing Chip-Cycle Risks","url":"https://stock-news.laohu8.com/highlight/detail?id=2338104877","media":"Bloomberg","summary":"ARKK ditched chipmaker before a 160% surge added $500 billionFund manager says Meta’s pivot to AI ‘i","content":"<html><head></head><body><ul><li><p>ARKK ditched chipmaker before a 160% surge added $500 billion</p></li><li><p>Fund manager says Meta’s pivot to AI ‘interesting to us’</p></li></ul><p>Cathie Wood defended her firm’s decision to bail on Nvidia Corp. before the chipmaker’s shares surged 160%, saying the computer-chip industry’s boom-bust cycle poses risks.</p><p>Wood’s flagship <a href=\"https://laohu8.com/S/ARKK\">ARK Innovation ETF</a> (ticker ARKK) cut its holding in Nvidia in January and missed out on most of the rally that added more than half a trillion dollars in market value. Nvidia jumped 24% Thursday alone after forecasting $11 billion in sales this quarter, 53% more than analysts expected.</p><p>“As far as Nvidia goes, there are a few reasons we take some pause,” Wood said in an interview on Bloomberg TV. She said when she hears, “shortages, shortages, shortages about GPUs or anything, I begin to think about the cyclicality of a group.” </p><p>Nvidia also faces growing competition in the battle to produce chips to power the computing infrastructure behind artificial intelligence programs, Wood said, citing companies like Tesla Inc., <a href=\"https://laohu8.com/S/META\">Meta Platforms</a> Inc., and Alphabet Inc. that are developing their own chips.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c1d32cfd162cd390a31850af9fd6d172\" alt=\"ARKK Missed Out on Nvidia&#39;s Gains | Wood&#39;s flagship fund dropped Nvidia, missing out on stock&#39;s gains\" title=\"ARKK Missed Out on Nvidia&#39;s Gains | Wood&#39;s flagship fund dropped Nvidia, missing out on stock&#39;s gains\" tg-width=\"1200\" tg-height=\"675\"/><span>ARKK Missed Out on Nvidia&#39;s Gains | Wood&#39;s flagship fund dropped Nvidia, missing out on stock&#39;s gains</span></p><p>While Wood’s flagship fund dropped its holdings to Nvidia, some of the firm’s “more specialized portfolios,” including the <a href=\"https://laohu8.com/S/ARKW\">ARK Next Generation Internet ETF</a> (ARKW) and the <a href=\"https://laohu8.com/S/ARKF\">ARK Fintech Innovation ETF</a> (ARKF), still retain some exposure to the company.</p><p>“We have not gotten much pushback,” she said regarding the decision to drop Nvidia, which she describes as “a check-the-box stock.”</p><p>ARKK has climbed 25.2% so far this year, outpacing the S&amp;P 500’s 9.5% gain. The Nasdaq 100 Index that houses the megacap tech companies that have powered the market’s gains in 2023 is up more than 30%.</p><p>Nvidia has been one of the main beneficiaries of the AI boom, seeing its sales surge on demand for chips. Marvell Technologies Inc. rallied 29% Friday after saying its revenue from AI products would double in the current fiscal year. ARKK holds neither.</p><p>“We’re just pivoting to another set of plays that most people have not discovered yet,” Wood said. “Much like they did not understand that Nvidia was an AI play, really, until very recently.”</p><p>Wood said Meta’s strategy of focusing on AI was good, although the company does not appear in the firm’s flagship portfolio.</p><p>Meta’s LLaMA AI language model is “able to deliver better models” using less computing power and more data, she said.</p><p>“Meta is interesting to us,” she said, adding that she likes “the fact that Mark Zuckerberg is now prioritizing artificial intelligence as opposed to the metaverse, which was really what he was focused on last year.”</p><p>Most Read from Bloomberg Businessweek</p><ul><li><p>Sergey Brin Has a Secret Plan to Put Airships Back in the Skies</p></li><li><p>Adidas After Yeezy</p></li><li><p>There’s Still Scary Stuff in Sunscreen</p></li><li><p>Trump’s Grip on the GOP Tightens as the Field Widens</p></li><li><p>The Man Who Spends $2 Million a Year to Look 18 Is Swapping Blood With His Father and Son</p></li></ul><p>©2023 Bloomberg L.P.</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCathie Wood Defends ARKK’s Decision to Dump Nvidia, Citing Chip-Cycle Risks\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-05-27 07:25 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2023-05-26/cathie-wood-defends-bailing-on-nvidia-citing-risk-of-chip-cycle-li4vonws?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>ARKK ditched chipmaker before a 160% surge added $500 billionFund manager says Meta’s pivot to AI ‘interesting to us’Cathie Wood defended her firm’s decision to bail on Nvidia Corp. before the ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2023-05-26/cathie-wood-defends-bailing-on-nvidia-citing-risk-of-chip-cycle-li4vonws?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU1839511570.USD":"WELLS FARGO GLOBAL FACTOR ENHANCED EQUITY \"I\" (USD) ACC","LU1242518931.SGD":"Fullerton Lux Funds - Asia Absolute Alpha A Acc SGD","LU1861215975.USD":"贝莱德新一代科技基金 A2","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","BK4554":"元宇宙及AR概念","LU1267930730.SGD":"富兰克林美国机遇基金AS Acc SGD (CPF)","LU1074936037.SGD":"JPMorgan Funds - US Value A (acc) SGD","LU0070302665.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) ACC","LU1548497426.USD":"安联环球人工智能AT Acc","LU1551013342.USD":"Allianz Income and Growth Cl AMg2 DIS USD","LU0320765489.SGD":"FTIF - Franklin Mutual US Value A Acc SGD","NVDA":"英伟达","LU1066051498.USD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM2\" (USD) INC","LU0985489474.SGD":"First Eagle Amundi International AHS-C SGD-H","LU0208291251.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) INC","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","LU0109392836.USD":"富兰克林科技股A","BK4533":"AQR资本管理(全球第二大对冲基金)","IE00B19Z3B42.SGD":"Legg Mason ClearBridge - Value A Acc SGD","IE0009356076.USD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A2\" (USD) ACC","LU0211327993.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (USD) ACC","LU1435385759.SGD":"Natixis Loomis Sayles US Growth Equity RA SGD-H","LU0082616367.USD":"摩根大通美国科技A（dist）","LU1551013425.SGD":"Allianz Income and Growth Cl AMg2 DIS H2-SGD","LU0433182093.SGD":"First Eagle Amundi International AS-C SGD","LU2264538146.SGD":"Fullerton Lux Funds - Global Absolute Alpha A Acc SGD","BK4529":"IDC概念","BK4550":"红杉资本持仓","BK4077":"互动媒体与服务","LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS","LU0234572021.USD":"高盛美国核心股票组合Acc","LU1064131342.USD":"Fullerton Lux Funds - Global Absolute Alpha A Acc USD","LU0889565833.HKD":"FRANKLIN TECHNOLOGY \"A\" (HKD) ACC","LU0149725797.USD":"汇丰美国股市经济规模基金","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","BK4503":"景林资产持仓","BK4544":"ARK ETF合集","IE00B19Z9505.USD":"美盛-美国大盘成长股A Acc","LU0708995401.HKD":"FRANKLIN U.S. OPPORTUNITIES \"A\" (HKD) ACC","LU0056508442.USD":"贝莱德世界科技基金A2","IE0002270589.USD":"LEGG MASON CLEARBRIDGE VALUE \"A\" (USD) INC","LU0109391861.USD":"富兰克林美国机遇基金A Acc","ARKK":"ARK Innovation ETF","LU0943347566.SGD":"安联收益及增长平衡基金AM H2-SGD","LU2326559502.SGD":"Natixis Loomis Sayles US Growth Equity P/A SGD-H","LU0097036916.USD":"贝莱德美国增长A2 USD","ARKW":"ARK Next Generation Internet ETF","LU0211331839.USD":"FRANKLIN MUTUAL GLB DISCOVERY \"A\" (USD) ACC","LU1242518857.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"I\" (USD) ACC"},"source_url":"https://www.bloomberg.com/news/articles/2023-05-26/cathie-wood-defends-bailing-on-nvidia-citing-risk-of-chip-cycle-li4vonws?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2338104877","content_text":"ARKK ditched chipmaker before a 160% surge added $500 billionFund manager says Meta’s pivot to AI ‘interesting to us’Cathie Wood defended her firm’s decision to bail on Nvidia Corp. before the chipmaker’s shares surged 160%, saying the computer-chip industry’s boom-bust cycle poses risks.Wood’s flagship ARK Innovation ETF (ticker ARKK) cut its holding in Nvidia in January and missed out on most of the rally that added more than half a trillion dollars in market value. Nvidia jumped 24% Thursday alone after forecasting $11 billion in sales this quarter, 53% more than analysts expected.“As far as Nvidia goes, there are a few reasons we take some pause,” Wood said in an interview on Bloomberg TV. She said when she hears, “shortages, shortages, shortages about GPUs or anything, I begin to think about the cyclicality of a group.” Nvidia also faces growing competition in the battle to produce chips to power the computing infrastructure behind artificial intelligence programs, Wood said, citing companies like Tesla Inc., Meta Platforms Inc., and Alphabet Inc. that are developing their own chips.ARKK Missed Out on Nvidia's Gains | Wood's flagship fund dropped Nvidia, missing out on stock's gainsWhile Wood’s flagship fund dropped its holdings to Nvidia, some of the firm’s “more specialized portfolios,” including the ARK Next Generation Internet ETF (ARKW) and the ARK Fintech Innovation ETF (ARKF), still retain some exposure to the company.“We have not gotten much pushback,” she said regarding the decision to drop Nvidia, which she describes as “a check-the-box stock.”ARKK has climbed 25.2% so far this year, outpacing the S&P 500’s 9.5% gain. The Nasdaq 100 Index that houses the megacap tech companies that have powered the market’s gains in 2023 is up more than 30%.Nvidia has been one of the main beneficiaries of the AI boom, seeing its sales surge on demand for chips. Marvell Technologies Inc. rallied 29% Friday after saying its revenue from AI products would double in the current fiscal year. ARKK holds neither.“We’re just pivoting to another set of plays that most people have not discovered yet,” Wood said. “Much like they did not understand that Nvidia was an AI play, really, until very recently.”Wood said Meta’s strategy of focusing on AI was good, although the company does not appear in the firm’s flagship portfolio.Meta’s LLaMA AI language model is “able to deliver better models” using less computing power and more data, she said.“Meta is interesting to us,” she said, adding that she likes “the fact that Mark Zuckerberg is now prioritizing artificial intelligence as opposed to the metaverse, which was really what he was focused on last year.”Most Read from Bloomberg BusinessweekSergey Brin Has a Secret Plan to Put Airships Back in the SkiesAdidas After YeezyThere’s Still Scary Stuff in SunscreenTrump’s Grip on the GOP Tightens as the Field WidensThe Man Who Spends $2 Million a Year to Look 18 Is Swapping Blood With His Father and Son©2023 Bloomberg L.P.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"commentSize":1,"favoriteSize":0,"favoriteStatus":false,"likeSize":33,"likeStatus":false,"repostSize":0},"APP":{"userAgent":"CCBot/2.0 (https://commoncrawl.org/faq/)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.13.0","shortVersion":"4.13.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2338104877"}