Cathie Wood Says Nvidia Too Expensive, Tesla to Benefit From AI Boom

Investing.com2023-05-30

Investing.com -- Cathie Wood, manager of the ARK Innovation exchange-traded fund (NYSE:ARKK), said on late-Monday that recent stock market darling Nvidia Corporation (NASDAQ:NVDA) was priced “ahead of...

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Diclet
2023-05-30
Diclet
Good, create entry

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#AI, as it aims for an $8-10 trillion revenue TAM in autonomous mobility by 2030,” Wood said in a Twitter thread.Wood’s comments come on the heels of a sharp rally in Nvidia shares over the past week, which made the firm the world’s most valuable chipmaker and on course to log a $1 trillion valuation.The rally was driven chiefly by stronger-than-expected first-quarter earnings, which Nvidia linked to increased interest in AI. The chipmaker also forecast strong sales and demand for the year, citing rapidly increasing interest in AI development. The rally brought Nvidia’s annual gains to about 167% for the year.Gains in Nvidia spilled over into most other chipmaking stocks, triggering sharp rallies in its Asian suppliers, specifically SK Hynix Inc (KS:000660), Advantest Corp (TYO:6857), and TSMC (TW:2330).According to the website Cathie’s Ark, which track’s the holdings of the funds managed by Wood under the Ark name, Wood holds a total of 325,062 shares in Nvidia as of May 26.The fund had dumped about 79,000 shares in February, and 65,000 shares last week. Wood’s total holdings in Nvidia are now worth about $127 million, based on Nvidia’s last close on Friday.","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9979995817,"gmtCreate":1685429038039,"gmtModify":1685429148052,"author":{"id":"3577416981022063","authorId":"3577416981022063","name":"Diclet","avatar":"https://community-static.tradeup.com/news/22b26b05dd8a816680fb482d6dea085d","vip":1,"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":3,"crmLevelSwitch":0,"idStr":"3577416981022063","authorIdStr":"3577416981022063"},"htmlText":"Good, create entry&nbsp;","listText":"Good, create entry&nbsp;","text":"Good, create entry","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9979995817","repostId":2339947665,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":20,"commentSize":1,"repostSize":1,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","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/2339947665"}