Cathie Wood's Strategic China Investment Move
Ark Invest executed significant trades involving Chinese tech giants Alibaba, Baidu, and Pony AI while divesting from Oklo.
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Ark Invest, under Cathie Wood's leadership, conducted major trading activities on Monday, focusing primarily on Chinese technology companies. The firm invested $16.3 million in Alibaba shares, purchasing 99,090 units across two ETFs.
This investment comes as Alibaba has developed a high-performance processor to compete directly with Nvidia in the Chinese market, showcasing the company's commitment to AI and hardware innovation. The stock has demonstrated exceptional performance with over 30% growth in the past month and 93.3% year-to-date returns.
Additionally, Ark acquired $2.90 million worth of Baidu shares and $2.1 million in Pony AI stock, reflecting confidence in China's AI and autonomous vehicle sectors. Conversely, the firm sold $7.70 million worth of Oklo shares, despite the nuclear energy company's strong performance and analyst upgrades.
Original Article
benzinga.comhttps://www.benzinga.com/etfs/broad-u-s-equity-etfs/25/09/47809510/cathie-woods-china-bet-ark-drops-16-3-million-on-red-hot-alibaba-picks-up-baidu-and-po