Ark Invest continues to add crypto and major tech stocks across its actively managed ETFs, highlighted by the addition on Tuesday of more than 174,000 shares of Google parent Alphabet (GOOG), valued at more than $56 million.
Cathie Wood’s investment management company also added $3.75 million worth of shares in cryptocurrency exchange Coinbase, $7 million worth of stablecoin issuer Circle, and about $2 million worth of its own Bitcoin ETF, the ARK 21Shares Bitcoin ETF (ARKB).
Major acquisition by Google The announcement comes just a week after the tech company announced We have developed Gemini 3, the most powerful AI model ever. The company is also in talks with major cloud companies to buy its chips. According to a report in the Wall Street Journal.
GOOG stock has been rising over the past five trading sessions, gaining over 8.9% and currently sitting at $319.11. The stock has risen more than 22% in the last month, according to Yahoo Finance.
The recent rally is just part of a broader rally for the company, with its stock up nearly 90% in the past six months and trading at a market capitalization of $3.816 trillion, which is more than the entire cryptocurrency ecosystem at the time of writing.
In addition to Google, the company added AI cloud computing company Coreweave (CRWV) for $29.4 million and Facebook parent company Meta for $21.5 million.
And in the meantime, Appraisal value attached to the company There have been some achievements in the field of AI. Investors wonder if the bubble is ready to burstWood’s company remains bullish.
“The fact that so many people are worried that we’re falling into an AI cycle that’s like a technology or communications bubble actually reassures me,” Wood said on the Ark Investments podcast published Tuesday. “It’s very different from what happened during the technology and communications bubble.”
Wood pointed to the fact that during the tech bubble, companies were founded and funded with “dreams” of what the future would hold and how much eyeballs they could ultimately secure.
But today, the technology is ready.
Uncertainty surrounding AI valuations and macroeconomic uncertainty due to missing data during the government shutdown have spooked the broader market recently, but Ark Investments has been relentless in its buying spree.
Last week, Ark’s funds were Added notable positions to Coinbase and Ethereum finance company Bitmine Immersion Technologies (BMNR). The company also steal the circle’s stock USDC stablecoin issuer returns to trading levels not seen since USDC A highly successful IPO In June.
Earlier this month, Wood slashed her. Bitcoin in 2030 is predicted to be worth $1.2 million per coin. This is down from the previous forecast of $1.5 million due to the stablecoin’s rapid rise.
