Cathie Wood seems to have the worst timing on artificial intelligence stocks. She offloaded Nvidia Corp.’s shares in early 2023, failing to grasp the popularity and disruptive power of ChatGPT. In late February, she sold Taiwan Semiconductor Manufacturing Corp. for the first time in more than two years, thus missing out on the foundry’s recent melt-up as well.

Perhaps to defend her losses, the founder of Ark Investment Management has been sounding the alarm on chip stocks lately. She warned that a lack of explosion in software revenue will slow companies’ AI infrastructure spending and that the lead time for Nvidia’s graphic processing units was already coming down. And unlike dot-com era market darling Cisco Systems Inc., Nvidia could face intense competition. Elon Musk’s Tesla Inc., for one, is designing its own chips, she said. Ark has been purchasing the EV maker’s beaten-down stock lately.

QOSHE - Don’t Ask Cathie Wood About Nvidia, or TSMC - Shuli Ren
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Don’t Ask Cathie Wood About Nvidia, or TSMC

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20.03.2024

Cathie Wood seems to have the worst timing on artificial intelligence stocks. She offloaded Nvidia Corp.’s shares in early 2023, failing to grasp the popularity and disruptive power of ChatGPT. In late February, she sold Taiwan........

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