TER - Cathie Wood Prefers These AI Stocks to Nvidia. Should You?
2023-06-17 05:43:00 ET
Cathie Wood, the CEO of Ark Invest, famously sold shares of Nvidia at the beginning of 2022. Since then, surging demand for the company's industry-leading artificial intelligence (AI) data center chips sent the stock screaming higher.
Wood hasn't changed her tune regarding Nvidia, but she's as confident as ever about the future of AI and its implications for the stock market. On Monday, June 12, she bought over 98,000 shares of Taiwan Semiconductor Manufacturing Co. (NYSE: TSM) , also known as TSMC. The very next day, she bought over 270,000 shares of Teradyne (NASDAQ: TER) for Ark Invest's exchange-traded funds.
These two stocks probably don't rise to the top of your mind when you think about AI -- but they should. Without their help, Nvidia's operation would quickly cease to function.
For further details see:
Cathie Wood Prefers These AI Stocks to Nvidia. Should You?