Ark Invest Doubles Down on AI Winners Palantir and Trade Desk After Nvidia Sale
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Ark Invest has sold some Nvidia stock recently, likely just portfolio rebalancing rather than a lack of confidence.
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Ark has bought more shares of two AI stocks Palantir Technologies and The Trade Desk. Each now represents about 1% of Ark's portfolio.
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Palantir provides platforms to help businesses leverage big data and AI, with a new product adding generative AI capabilities. Revenue and profits are growing steadily.
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The Trade Desk operates an adtech platform that uses AI to optimize digital ad campaigns. It benefits from not owning any media content itself.
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Both Palantir and The Trade Desk are poised to grow sales rapidly in the years ahead as businesses adopt more AI. Ark likely sees them as long-term winners.