NVDA: Cathie Wood Buys Dip in Nvidia Stock Amid Tech Sell-off

This article first appeared on GuruFocus.

Cathie Wood’s ARK Innovation ETF (ARKK) bought 93,374 Nvidia shares on Thursday, its first purchase of the chipmaker since Aug. 4.

The trade followed Nvidia’s stronger-than-expected quarterly results, which briefly pushed the stock up more than 5% before it reversed. Nvidia closed down 3.15% at $180.64 as broader markets fell and investors trimmed bets on a December Federal Reserve rate cut.

As of Nov. 20, ARK held 505,395 Nvidia shares, making it the fund’s 23rd-largest position. The buy signals renewed interest from a high-profile active manager but is a modest weighting for the ETF.

Market participants said profit-taking and shifting rate expectations likely contributed to the late sell-off. The trades were disclosed in ARK’s daily filings.

Some analysts said the purchase likely reflects longer-term conviction in AI-driven demand, even as near-term volatility persists. Traders will watch upcoming guidance and macro data for clues on chip demand and Fed timing.