Cathie Wood's Ark Invest Buys into UiPath, Leader in Fast-Growing AI-Powered Automation Software
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Cathie Wood's Ark Invest fund has been buying shares of UiPath (PATH), an AI-powered robotic process automation (RPA) software company
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UiPath uses AI throughout its offerings to automate repetitive tasks and free up employees
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The RPA market is estimated to expand from $2.66B currently to $66B by 2032, indicating massive growth potential
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UiPath is the RPA market leader and grew revenue 24% last quarter, but is not yet profitable
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At 11.8x sales, UiPath's valuation seems reasonable relative to similar high-growth software stocks, making it a compelling buy