Important points
- ARK Invest, led by Cathie Wood, purchased an additional 157,731 shares of Alibaba stock on November 11th.
- This acquisition is part of Ark Invest’s continued strategy to focus on AI-driven companies.
Cathie Wood’s investment firm ARK Invest acquired an additional 157,731 shares of Alibaba stock on Tuesday. The acquisition marks a continued bet on the Chinese tech giant, which is focused on advances in artificial intelligence.
ARK Invest is strengthening its collaboration with Alibaba as part of a renewed focus on China’s technology recovery. The move comes as the Chinese technology conglomerate’s stock price has risen 91% so far this year.
Alibaba’s efforts in artificial intelligence have sparked optimism among investors who see potential in the company’s technological axis. This acquisition further strengthens ARK Invest’s existing position in e-commerce and cloud computing companies.
