Cathie Wood Buys $27.9 Million of Meta Shares, Bets on AI Expansion

According to Wallstreetcn, Ark Investment Management head Cathie Wood bought $27.9 million of Meta shares last week, betting that the company will continue to deepen its artificial intelligence business. Wood focuses on high-tech companies in artificial intelligence, blockchain, biotechnology, and robotics, and said such companies have strong growth potential but also high share-price volatility that can cause sharp swings in Ark funds' net asset value.