Ark Invest, led by Cathie Wood, made significant trades on Thursday, increasing its holdings in Amazon.com Inc. and Baidu Inc., while reducing its stake in Salesforce Inc. The firm purchased Amazon shares despite a stock decline, citing BofA Securities’ optimistic outlook on AWS’s AI-driven growth. Ark Invest also acquired a substantial amount of Baidu stock across multiple funds, as the Chinese tech giant continues to invest heavily in AI despite a recent revenue decline.
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Cathie Wood Seeing AI Gold In Amazon And Baidu? Ark Invest Is Betting On These Stocks Today
Ark Invest, led by Cathie Wood, made significant trades on Thursday, increasing its holdings in Amazon.com Inc. and Baidu Inc., while reducing its stake in Salesforce Inc. The firm purchased Amazon shares despite a stock decline, citing BofA Securities’ optimistic outlook on AWS’s AI-driven growth. Ark Invest also acquired a substantial amount of Baidu stock across multiple funds, as the Chinese tech giant continues to invest heavily in AI despite a recent revenue decline.