ARK Innovation ETF Re-enters Nvidia (NVDA) with $17M Buy After Earnings Volatility
ARK Invest's flagship ETF made its first acquisition of Nvidia shares since August, purchasing 93,374 shares worth approximately $17-18 million. The move comes despite Nvidia's 3.15% post-earnings decline to $180.64, as broader market sentiment shifted on fading expectations for Fed rate cuts.
The purchase represents a cautious re-entry for ARK, maintaining the position as a minor holding at just 23rd in its portfolio. Nvidia's continued dominance in AI-optimized data center chips appears to outweigh short-term volatility concerns, with the fund now holding 505,395 shares total.
Market reactions highlight the tension between stellar fundamentals - Nvidia beat earnings estimates - and macroeconomic headwinds. The strategic positioning suggests ARK views current levels as an attractive entry point for long-term AI infrastructure exposure.
