Ark Invest Sells Some Nvidia, Buys More UiPath as Analysts See Growth Potential for AI Software Firm

Cathie Wood's Ark Invest sold some of its position in Nvidia stock and bought more shares of UiPath, an AI software company.

UiPath offers a business automation platform that combines RPA and AI to help companies automate workflows.

UiPath is a leader in enterprise automation software and is expanding its AI capabilities.

UiPath had revenue growth of 19% in Q2 despite macroeconomic headwinds. Guidance implies accelerating growth.

Analysts see a large addressable market for UiPath's products. Morgan Stanley forecasts 19% annual revenue growth over the next 2.5 years.