Cathie Wood appears to be leaning back into the Magnificent Seven trade.
As broader markets stumbled this week, ARK Invest used the pullback to increase positions in three of the most influential mega-cap technology stocks.
Holdings of shares of Amazon.com, Inc (NASDAQ:AMZN), Alphabet, Inc (NASDAQ:GOOGL) and Tesla,Inc (NASDAQ:TSLA) were boosted across the company's flagship ETFs on Tuesday, signaling renewed conviction in some of the market's largest AI-linked companies.
The purchases came as investors continue debating whether the next leg of the AI rally will be led by semiconductor giants such as Nvidia or by mega-cap platform companies that are increasingly monetizing artificial intelligence through cloud computing, digital advertising, e-commerce and autonomous driving technologies. • ARK Innovation ETF shares are trending higher.
What's driving ARKK shares up?
