Cathie Wood Backs George Soros-Supported Autonomous Truck Company and Increases Chinese AI Investments
Cathie Wood's Ark Invest executed significant trades on Thursday, concentrating on major technology companies including Alibaba and Baidu.
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Ark Invest, managed by Cathie Wood, completed several major technology trades on Thursday. The company purchased 14,453 Alibaba shares valued at approximately $2.74 million, following previous investments totaling $9.6 million this week.
Alibaba's stock performance improved due to its Amap platform reaching 360 million daily users during China's National Day celebrations. Ark also acquired 45,478 Baidu shares worth $6.4 million, as the company expands its Apollo Go robotaxi service internationally, including 50 trial licenses in Dubai.
The firm sold 44,209 Brera Holdings shares for $1.1 million, reducing its position after a significant $162 million investment last month. Additionally, Ark purchased 190,165 Kodiak AI shares for $1.3 million, coinciding with Soros Fund Management's 5.7% stake disclosure. These transactions demonstrate Ark's strategic focus on artificial intelligence and autonomous vehicle technologies.
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benzinga.comhttps://www.benzinga.com/markets/equities/25/10/48009528/cathie-wood-hitches-a-ride-on-george-soros-backed-driverless-truck-company-kodiak-ai-doubles-dow