Cathie Wood, CEO of Ark Invest, purchased shares of SpaceX, Palantir Technologies, and Cerebras Systems as AI stocks declined last week following a 4.6% drop in the Nasdaq Composite. Wood uses market downturns to buy stocks at attractive prices, betting on long-term growth potential. Her moves suggest she sees opportunity in these three companies despite their recent price declines and position them as potential winners in the high-growth AI sector.
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As the tech-heavy Nasdaq Composite fell for five straight sessions and finished down 4.6% last week, investor Cathie Wood bought shares of three AI-related companies. She purchased SpaceX stock on June 26, Palantir Technologies on June 25 and 26, and Cerebras Systems between June 23 and 26, each for multiple funds including her flagship Ark Innovation.
Why it matters
Wood is known for using market downturns to acquire stocks at lower prices, betting on long-term upside if the companies achieve their goals. Her purchases signal confidence in these three companies' potential in the AI and AI chip markets, even as their stock prices have declined from recent peaks.
What to watch
Cerebras launched its IPO in May and surged 68% on its first trading day but has since fallen considerably; the company posted first-quarter revenue of more than $190 million（約300億円）, up 92%, though still far below Nvidia's multi-billion-dollar revenue levels. Palantir has grown its U.S. commercial customer count to more than 600 from just a handful a few years ago.
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