Ark Invest’s Cathie Wood Justifies Exit From Nvidia Due to Stretched Valuations

05/30 13:00

Cathie Wood, the manager of the ARK Innovation ETF, has justified her fund's exit from Nvidia earlier this year, stating that the chipmaker has been priced "ahead of the curve". Nvidia's stock has more than doubled since ARKK exited in January 2023, and is now trading at 25 times the estimated sales for the current financial year. However, some analysts believe that the outlook for chips isn't quite picking up yet amid tepid demand for consumer electronics. Nvidia's co-founder, Jensen Huang, recently unveiled a number of AI products at the Computex trade show, including an AI supercomputer platform called DGX GH200.

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