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Cathie Wood remains optimistic about Crypto Assets and artificial intelligence, Ark increases its holdings in Google and Coinbase shares.
After Google launched Gemini AI, Ark Invest continued to actively buy Crypto Assets and tech stocks, increasing its holdings by more than 174,000 shares of Alphabet stock, worth $56 million. The company also purchased $3.75 million worth of Coinbase stock, $7 million worth of Circle stock, and $2 million worth of the ARK Bitcoin ETF. Despite concerns about AI valuations, Cathie Wood still defends this strategy, pointing out that current technologies are more realistic than the “dreams” of the internet bubble era. Meanwhile, Ark also bought $29.4 million worth of AI cloud company CoreWeave stock and $21.5 million worth of Meta stock, maintaining a bullish momentum amid market uncertainty.