Ark Invest Sells Nvidia, Buys Palantir and Pinterest for AI Growth Potential
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Ark Invest has been selling Nvidia stock and buying Palantir and Pinterest stocks instead for their artificial intelligence capabilities.
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Palantir delivered strong Q4 results, with revenue growth accelerating and net income tripling year-over-year. Its AI product AIP is seeing high demand.
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Pinterest's monthly active users and revenue grew double-digits in Q4. It is investing in AI to improve recommendations and user engagement.
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Pinterest has partnered with Amazon and Google to expand its advertising reach beyond its own ecosystem.
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Analysts expect robust revenue growth for Palantir (21% annually) and Pinterest (15% annually) over the next 5 years. Pinterest trades at a reasonable 8.2x sales multiple.