Cathie Wood 'Buys the Dip' in Nvidia (NVDA) and Tesla (TSLA) Amidst AI Stock Crash

▲ NVIDIA (NVDA), SpaceX (SPCX), Solana (SOL)/AI-generated image

Cathie Wood utilized the global AI stock market crash as a buying opportunity worth $40 million.

According to crypto media outlet Coingafe on July 29 (local time), ARK Invest, led by Cathie Wood, incorporated 40,281 shares of Tesla (TSLA) into four ETFs. ARKK purchased the largest number of shares with 26,920. ARKQ bought 5,785 shares, ARKW bought 5,119 shares, and ARKX bought 2,457 shares. Applying Tesla's closing price of $307.44, the acquisition volume amounted to approximately $12.38 million.

The total acquisition volume of SpaceX shares was 105,108. ARKK added 70,773 shares, and ARKQ bought 15,213 shares. ARKW and ARKX purchased 9,426 and 9,696 shares, respectively. Based on the closing price, the total acquisition amount was approximately $12.24 million.

NVIDIA (NVDA) shares were purchased by all five ETFs under ARK Invest: ARKK with 42,072 shares, ARKQ with 13,639 shares, ARKW with 11,984 shares, ARKF with 5,471 shares, and ARKX with 5,799 shares. The total purchase volume was 78,965 shares. Applying the closing price of $197.01, the transaction volume was estimated at approximately $15.56 million.

ARK Invest also expanded its investment in Solana (SOL). ARKW and ARKF purchased 2,997 and 2,255 shares, respectively, of the 3iQ Solana Staking ETF (SOLQ.U). The total value of 5,252 shares is approximately $32,667 based on a closing price of $6.22.

These purchases were made on July 28, when global AI-related stocks collectively plummeted. The KOSPI index fell by 10.8%, and Samsung Electronics and SK Hynix each dropped over 13%. Japan's Nikkei 225 index also declined by about 4%. NVIDIA fell 5% the previous day, ceding its position as the world's most valuable company by market capitalization to Apple. US semiconductor and storage-related stocks also fell by more than 4% on that day.

[Article Summary]

-ARK Invest purchased over $40 million worth of Tesla, SpaceX, and NVIDIA shares amidst a global AI stock crash.

-NVIDIA's acquisition amount was the largest at approximately $15.56 million, with over $12 million also invested in both Tesla and SpaceX.

-While KOSPI and Nikkei 225 plummeted and US tech stocks wavered, Cathie Wood increased her exposure to AI-related assets.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*