Latest news with #ArkInvestmentManagement
Bloomberg
6 days ago
- Business
- Bloomberg
BlackRock Is Said to Plan to Buy Shares in Circle Internet IPO
By and Anthony Hughes Save BlackRock Inc. plans to acquire about 10% of the shares offered in Circle Internet Group Inc. 's initial public offering, according to people familiar with the matter, as the worlds of traditional finance and cryptocurrency continue to deepen their ties. The stablecoin issuer and some of its shareholders including co-founder and Chief Executive Officer Jeremy Allaire are seeking to raise as much as $624 million in the offering, according to a US Securities and Exchange Commission filing Tuesday. Cathie Wood's Ark Investment Management has indicated an interest in buying as much as $150 million of shares in the offering, the filing shows.
Miami Herald
25-05-2025
- Business
- Miami Herald
Cathie Wood buys $46 million of surging top semiconductor stock
Cathie Wood, head of Ark Investment Management, is known for making bold bets on disruptive innovation, mostly in the U.S. But this week, she looked abroad, buying an Asian chipmaker as investor optimism around AI infrastructure and semiconductors returns following signs of easing tariffs. Don't miss the move: Subscribe to TheStreet's free daily newsletter In April, President Donald Trump raised tariffs on Chinese goods to as high as 145%, prompting swift retaliation from Beijing and triggering a sharp market sell-off as tensions flared between the world's two largest economies. Earlier this month, the U.S. and China struck a rare deal in Geneva to temporarily cut tariffs as both sides work toward a broader agreement. Wood's funds saw a brief bump after Trump won the presidency last November, but that momentum didn't go far. Her flagship Ark Innovation ETF (ARKK) underperformed the S&P 500 index amid broader market volatility. Year-to-date, ARKK is down 2.67%, slightly worse than the S&P 500's loss of 1.34%. Wood gained a remarkable 153% in 2020, which helped build her reputation and attract loyal investors. Still, her long-term performance has made many others skeptical of her aggressive style. As of May 23, Ark Innovation ETF, with $5 billion under management, has delivered a five-year annualized return of negative 1.75%. In comparison, the S&P 500 has an annualized return of 16.20% over the same period. Image source:Wood's investment strategy is straightforward: Her Ark ETFs typically buy shares in emerging high-tech companies in fields such as artificial intelligence, blockchain, biomedical technology, and robotics. Wood says these companies have the potential to reshape industries, but their volatility leads to major fluctuations in Ark funds' values. Related: Cathie Wood's net worth: The Ark Invest CEO's wealth & income The Ark Innovation ETF wiped out $7 billion in investor wealth over the 10 years ending in 2024, according to an analysis by Morningstar's analyst Amy Arnott. That made it the third-biggest wealth destroyer among mutual funds and ETFs in Arnott's ranking. Wood recently said the U.S. is coming out of a three-year "rolling recession" and heading into a productivity-led recovery that could trigger a broader bull market. In a letter to investors published on April 30, she dismissed predictions of a recession dragging into 2026, as she expects "more clarity on tariffs, taxes, regulations, and interest rates over the next three to six months." "If the current tariff turmoil results in freer trade, as tariffs and non-tariff barriers come down in tandem with declines in other taxes, regulations, and interest rates, then real GDP growth and productivity should surprise on the high side of expectations at some point during the second half of this year," she wrote. She also struck an optimistic tone for tech stocks. "During the current turbulent transition in the US, we think consumers and businesses are likely to accelerate the shift to technologically enabled innovation platforms including artificial intelligence, robotics, energy storage, blockchain technology, and multiomics sequencing," she said. But not all investors share Wood's optimism. The Ark Innovation ETF has seen a net outflow of $2.45 billion over the past 12 months through May 21, with $446.69 million exiting in the past month, according to ETF research firm VettaFi. On May 19 and 20, Wood's Ark funds bought 241,047 shares of Taiwan Semiconductor Manufacturing Company, or TSMC (TSM) . That chunk of stock is valued at roughly $46.3 million and is one of Wood's biggest recent trades. Related: Cathie Wood buys $2.7M surging China tech stock after tariff talks Taiwan Semiconductor is the world's leading contract chipmaker and a key supplier to Nvidia (NVDA) and Advanced Micro Devices (AMD) . It manufactures advanced chips used in artificial intelligence applications, including those that power large language models developed by companies such as Microsoft (MSFT) and Google (GOOGL) . TSMC shares are down 4.2% so far in 2025, but the stock has rebounded sharply in the past month, climbing nearly 27% as investors reassess the impact of U.S.-China tariffs on the chipmaker's outlook. In April, the company reported strong first-quarter results, with earnings per share increased 60.4% to $2.12 per ADR. Revenue reached $25.53 billion, a 41.6% increase year-over-year. For the current quarter, TSMC expects revenue of $28.4 billion to $29.2 billion. The midpoint of $28.8 billion topped Wall Street's target of $26.92 billion. "Moving into second quarter 2025, we expect our business to be supported by strong demand for our industry-leading 3-nanometer and 5-nanometer technologies," TSMC Chief Financial Officer Wendell Huang said. The bullish bet isn't without risk. TSMC is exposed to geopolitical tensions and trade uncertainties between the U.S. and China, which could hurt the company's delivery and revenue. "While we have not seen any changes in our customers' behavior so far, uncertainties and risks from the potential impact from tariff policies exist," Huang said in a TSMC news release. Nvidia's CEO, Jensen Huang, said last September that Nvidia had the ability to turn to other suppliers as it had enough intellectual property. But he flagged that the switch might lower chip quality. More Nvidia: Will Nvidia get hit hard by AI capex risk?Analysts revise Nvidia price target on chip demandSurprising China news sends Nvidia stock tumbling "Maybe the process technology is not as great, maybe we won't be able to get the same level of performance or cost, but we will be able to provide the supply," Huang said at Goldman Sachs's Communacopia + Technology Conference. "In the event anything were to happen, we should be able to pick up and fab it somewhere else." Still, he praised TSMC's unmatched capabilities. "TSMC is the world's best by an incredible margin…the great chemistry, their agility, the fact that they could scale," he added. In the first quarter, Wood purchased 8,996 TSMC shares. The stock is not in her top 10 holdings. Billionaire investor Stanley Druckenmiller also made a bold bet in TSMC, adding 491,265 shares in the first quarter, which represents an increase of 456.9% in his stake. Related: Veteran fund manager unveils eye-popping S&P 500 forecast The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
The Star
24-05-2025
- Business
- The Star
China tech gets second look
CATHIE Wood, the maverick behind Ark Investment Management and long-time champion of US tech innovation, reportedly has made a surprising move – into China. Her recent US$2.7mil purchase of a Chinese tech stock is more than just a portfolio tweak; it's a signal that sentiment around China's tech sector may be turning a corner.
Yahoo
17-05-2025
- Business
- Yahoo
Cathie Wood buys $2.7M surging China tech stock after tariff talks
Cathie Wood, founder and chief of Ark Investment Management, is best known for backing cutting-edge tech like AI and robotics, with most of her investments focused on U.S. companies. But this week, she made a move in China, picking up $2.7 million worth of a Chinese tech stock as trade tensions between Washington and Beijing showed signs of easing. 💵💰Don't miss the move: Subscribe to TheStreet's free daily newsletter 💰💵 In early April, President Donald Trump raised tariffs on Chinese goods to as high as 145%, setting off tensions between the world's two biggest economies and triggering a sharp market sell-off. Last week, the two sides reached a deal in Geneva: the U.S. will cut those tariffs to 30% for the next three months, while China agreed to lower its own duties on U.S. imports to 10% from 125%. Wood's funds saw a brief bump after Trump won the presidency last November, but that momentum didn't go far. Her flagship Ark Innovation ETF () underperformed both the S&P 500 and Nasdaq Composite through March and April amid broader market volatility. However, as of May 16, ARKK has started to recover, showing a 1.32% gain for the year, slightly ahead of the S&P 500's 1.30% gain and outperforming the Nasdaq's 0.52% loss. Wood gained a remarkable 153% in 2020, which helped build her reputation and attract loyal investors. Still, her long-term performance has made many others skeptical of her aggressive style. As of May 16, Ark Innovation ETF, with $5 billion under management, has delivered a five-year annualized return of just 0.59%. In comparison, the S&P 500 has an annualized return of 17.57% over the same period. Wood's investment strategy is straightforward: Her Ark ETFs typically buy shares in emerging high-tech companies in fields such as artificial intelligence, blockchain, biomedical technology, and robotics. Wood says these companies have the potential to reshape industries, but their volatility leads to major fluctuations in Ark funds' Ark Innovation ETF wiped out $7 billion in investor wealth over the 10 years ending in 2024, according to an analysis by Morningstar's analyst Amy Arnott. That made it the third-biggest wealth destroyer among mutual funds and ETFs in Arnott's ranking. Wood says the U.S. is coming out of a three-year 'rolling recession' and heading into a productivity-led recovery that could trigger a broader bull market. In a letter to investors published on April 30, she dismissed predictions of a recession dragging into 2026, as she expects "more clarity on tariffs, taxes, regulations, and interest rates over the next three to six months." "If the current tariff turmoil results in freer trade, as tariffs and non-tariff barriers come down in tandem with declines in other taxes, regulations, and interest rates, then real GDP growth and productivity should surprise on the high side of expectations at some point during the second half of this year," she wrote. She also struck an optimistic tone for tech stocks. "During the current turbulent transition in the U.S., we think consumers and businesses are likely to accelerate the shift to technologically enabled innovation platforms including artificial intelligence, robotics, energy storage, blockchain technology, and multiomics sequencing," she said. Not all investors share Wood's optimism. The Ark Innovation ETF has seen a net outflow of $2.01 billion over the past 12 months through May 14, with $208.41 million exiting in the past month, according to ETF research firm VettaFi. On May 12, Wood's Ark Autonomous Technology & Robotics ETF () bought 30,217 shares of Baidu Inc () . That chunk of stock is valued at roughly $2.7 million. Primarily known as China's top search engine, Baidu has shifted its focus to artificial intelligence and autonomous mobility. The company recently launched its new AI model, Ernie X1 and Ernie 4.5, positioning itself as a rival to OpenAI and DeepSeek. This isn't Wood's first move on Baidu or on Chinese tech in general. In the early 2020s, she was bullish on major Chinese tech names, building sizable positions in Baidu, Tencent, and early 2021, The Ark funds held nearly 5 million shares of Baidu, worth around $1 billion, reflecting her optimism on China's market momentum and Baidu's push into electric vehicles, a play that echoed her long-standing position in Tesla () . However, Wood's China investment hit hard in 2021 as Beijing's regulatory crackdown on tech firms intensified, and she gradually reduced her stakes. By the third quarter of 2022, Ark had fully exited Baidu. Wood returned to the name on March 24 this year, buying 129,451 shares — her first Baidu purchase in over two years. She added another 136,773 shares in April, followed by this latest May buy. Baidu shares are up roughly 6% in the past month. In a March interview with Bloomberg, Wood talked about how Robin Li, Baidu's CEO, is working to grow the company's self-driving business. More Tech Stocks: Amazon makes move that the White House hates, then walks it back Analyst reboots Apple stock price target ahead of earnings Controversial EV tax credits will be bad news for Tesla "We had a conversation very recently with Robin Li and his team and we understand how competitive the market is in China for both autonomous mobility and large language models. But we are looking at how Robin Li is pushing the envelope. Wuhan is the toughest in China. He can take learnings from that robotaxi experience into other markets," Wood said. "We believe that autonomous mobility in the next 5 to 10 years is going to scale globally to an $8 to $10 trillion market. If Baidu were to get any of that market even outside of China in the rest of Asia, we think that's not at all discounted in the stock," she added. Baidu stock is up 6.29% year-to-date.
Yahoo
17-05-2025
- Business
- Yahoo
Cathie Wood buys $2.7M surging China tech stock after tariff talks
Cathie Wood, founder and chief of Ark Investment Management, is best known for backing cutting-edge tech like AI and robotics, with most of her investments focused on U.S. companies. But this week, she made a move in China, picking up $2.7 million worth of a Chinese tech stock as trade tensions between Washington and Beijing showed signs of easing. 💵💰Don't miss the move: Subscribe to TheStreet's free daily newsletter 💰💵 In early April, President Donald Trump raised tariffs on Chinese goods to as high as 145%, setting off tensions between the world's two biggest economies and triggering a sharp market sell-off. Last week, the two sides reached a deal in Geneva: the U.S. will cut those tariffs to 30% for the next three months, while China agreed to lower its own duties on U.S. imports to 10% from 125%. Wood's funds saw a brief bump after Trump won the presidency last November, but that momentum didn't go far. Her flagship Ark Innovation ETF () underperformed both the S&P 500 and Nasdaq Composite through March and April amid broader market volatility. However, as of May 16, ARKK has started to recover, showing a 1.32% gain for the year, slightly ahead of the S&P 500's 1.30% gain and outperforming the Nasdaq's 0.52% loss. Wood gained a remarkable 153% in 2020, which helped build her reputation and attract loyal investors. Still, her long-term performance has made many others skeptical of her aggressive style. As of May 16, Ark Innovation ETF, with $5 billion under management, has delivered a five-year annualized return of just 0.59%. In comparison, the S&P 500 has an annualized return of 17.57% over the same period. Wood's investment strategy is straightforward: Her Ark ETFs typically buy shares in emerging high-tech companies in fields such as artificial intelligence, blockchain, biomedical technology, and robotics. Wood says these companies have the potential to reshape industries, but their volatility leads to major fluctuations in Ark funds' Ark Innovation ETF wiped out $7 billion in investor wealth over the 10 years ending in 2024, according to an analysis by Morningstar's analyst Amy Arnott. That made it the third-biggest wealth destroyer among mutual funds and ETFs in Arnott's ranking. Wood says the U.S. is coming out of a three-year 'rolling recession' and heading into a productivity-led recovery that could trigger a broader bull market. In a letter to investors published on April 30, she dismissed predictions of a recession dragging into 2026, as she expects "more clarity on tariffs, taxes, regulations, and interest rates over the next three to six months." "If the current tariff turmoil results in freer trade, as tariffs and non-tariff barriers come down in tandem with declines in other taxes, regulations, and interest rates, then real GDP growth and productivity should surprise on the high side of expectations at some point during the second half of this year," she wrote. She also struck an optimistic tone for tech stocks. "During the current turbulent transition in the U.S., we think consumers and businesses are likely to accelerate the shift to technologically enabled innovation platforms including artificial intelligence, robotics, energy storage, blockchain technology, and multiomics sequencing," she said. Not all investors share Wood's optimism. The Ark Innovation ETF has seen a net outflow of $2.01 billion over the past 12 months through May 14, with $208.41 million exiting in the past month, according to ETF research firm VettaFi. On May 12, Wood's Ark Autonomous Technology & Robotics ETF () bought 30,217 shares of Baidu Inc () . That chunk of stock is valued at roughly $2.7 million. Primarily known as China's top search engine, Baidu has shifted its focus to artificial intelligence and autonomous mobility. The company recently launched its new AI model, Ernie X1 and Ernie 4.5, positioning itself as a rival to OpenAI and DeepSeek. This isn't Wood's first move on Baidu or on Chinese tech in general. In the early 2020s, she was bullish on major Chinese tech names, building sizable positions in Baidu, Tencent, and early 2021, The Ark funds held nearly 5 million shares of Baidu, worth around $1 billion, reflecting her optimism on China's market momentum and Baidu's push into electric vehicles, a play that echoed her long-standing position in Tesla () . However, Wood's China investment hit hard in 2021 as Beijing's regulatory crackdown on tech firms intensified, and she gradually reduced her stakes. By the third quarter of 2022, Ark had fully exited Baidu. Wood returned to the name on March 24 this year, buying 129,451 shares — her first Baidu purchase in over two years. She added another 136,773 shares in April, followed by this latest May buy. Baidu shares are up roughly 6% in the past month. In a March interview with Bloomberg, Wood talked about how Robin Li, Baidu's CEO, is working to grow the company's self-driving business. More Tech Stocks: Amazon makes move that the White House hates, then walks it back Analyst reboots Apple stock price target ahead of earnings Controversial EV tax credits will be bad news for Tesla "We had a conversation very recently with Robin Li and his team and we understand how competitive the market is in China for both autonomous mobility and large language models. But we are looking at how Robin Li is pushing the envelope. Wuhan is the toughest in China. He can take learnings from that robotaxi experience into other markets," Wood said. "We believe that autonomous mobility in the next 5 to 10 years is going to scale globally to an $8 to $10 trillion market. If Baidu were to get any of that market even outside of China in the rest of Asia, we think that's not at all discounted in the stock," she added. Baidu stock is up 6.29% in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
