Cathie Wood Thinks There's Been "Too Much Emphasis on AI" With This Chip Stock -- and It's Not Nvidia
Cathie Wood doesn't hold much back in her views about Nvidia (NASDAQ: NVDA) these days. She has stated several times that the stock is too highly valued. While Nvidia remains in her Ark Invest portfolio, Wood has sold much of the previously large stake this year.
On Wednesday, Wood talked about investing in artificial intelligence (AI) on CNBC's Squawk Box Europe program. She stated in the interview that there "might be a little bit too much emphasis on AI" with one chip stock. Surprisingly, it's not Nvidia.
Wood didn't buy into the hype leading up to the initial public offering (IPO) for Arm Holdings (NASDAQ: ARM) last week. Arm traded publicly in the past but was taken private by Japanese investment company in 2016 for $32 billion. Roughly seven years later, SoftBank saw an opportunity to profit from its purchase by taking Arm public again.
Source Fool.com
