Her flagship fund, ARKK, is up more than 20 percent since early May.
(Photo: Reuters)
Dusseldorf The rapid advances in the development of artificial intelligence (AI) have led to a new run on tech stocks. One of the beneficiaries is the US fund manager Cathie Wood: The course of her flagship fund ARKK has increased by 23 percent since the beginning of May. Compared to the record high from 2021, the minus is still more than 70 percent.
The well-known tech investor relies exclusively on disruptive technologies such as gene sequencing, robotics, electromobility, cryptocurrencies – and AI. In June, Wood bought $250 million worth of new stock. That’s more than any other time this year.
It is striking that Wood mainly bought shares in companies that benefit from the further development of artificial intelligence: The three largest new investments are all related to AI. While her top buy was one of her biggest investments back in May, second and third place are stocks that she recently added to her portfolio.
Twilio stock
Read on now
Get access to this and every other article in the
Web and in our app free of charge for 4 weeks.
Further
Read on now
Get access to this and every other article in the
web and in our app.
Further