Cathie Wood Seeing AI Gold In Amazon And Baidu? Ark Invest Is Betting On These Stocks Today

On Thursday, Cathie Wood-led Ark Invest executed significant trades involving Amazon.com Inc. (NASDAQ:AMZN) , Baidu Inc. (NASDAQ:BIDU), and Salesforce Inc. (NYSE:CRM).

The Amazon Trade

The ARK Next Generation Internet ETF (BATS:ARKW) purchased 3,869 shares of Amazon.com, valued at approximately $804,442 based on the closing price of $207.92.

Despite a 1.29% decline in Amazon’s stock price on Thursday, the investment firm appears optimistic about the company’s future. A recent analysis by BofA Securities reiterated a Buy rating on Amazon, citing the potential growth driven by Amazon Web Services’ aggressive expansion.

The Baidu Trade

Ark Invest made a notable move with Baidu across multiple funds. ARK Innovation ETF (BATS:ARKK), ARK Autonomous Technology & Robotics ETF (BATS:ARKQ) and ARKW collectively acquired 97,597 shares, totaling around $12.2 million at Thursday’s closing price of $125.15.

Baidu’s stock dropped following its quarterly results. The Chinese tech giant’s recent earnings report revealed a 4% year-over-year revenue decline, yet the company continues to invest in AI.

The Salesforce Trade

ARKW fund sold 15,622 shares of Salesforce valued at approximately $3.1 million based on the closing price of $199.47.

Salesforce’s stock surged 4.03% on Thursday after the company reported robust fourth-quarter results, including a 12% revenue increase and a $50 billion buyback plan.

Other Key Trades

• Nu Holdings Ltd. (NU): ARKF fund bought 52,974 shares.
  Butterfly Network Inc. (BFLY): ARKG fund sold 680,826 shares.
• Iridium Communications Inc (IRDM): ARKQ fund sold 158,262 shares.
  PagerDuty Inc (PD): ARKK and ARKW sold 307,843 shares.

Benzinga Edge Stock Rankings indicate Amazon stock has a Momentum in the 20th percentile and Value in the 57th percentile.

This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal

Photo: Ira Lichi / Shutterstock