Ark Invest Sells Nvidia, Buys Palantir and Pinterest for AI Growth Potential
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Ark Invest has been selling shares of Nvidia stock and buying shares of Palantir Technologies and Pinterest instead for their AI exposure.
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Palantir delivered strong Q4 results, with revenue growth accelerating, profits tripling, and high demand for its new AI software platform.
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Palantir is seen as a leader in AI/ML platforms, but its stock valuation looks expensive right now.
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Pinterest reported solid user and revenue growth in Q4, powered in part by improvements to its AI recommendation models.
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Pinterest aims to drive growth through investments in AI as well as partnerships with Amazon and Google for third-party advertising.