Cathie Wood Loads Up on Nvidia Stock Ahead of Earnings

Nvidia is set to report its second-quarter results on August 26, and investors are optimistic about the outcome. The company has consistently delivered quarterly results that exceed analysts' expectations, making it a top pick among Wall Street firms.

Cathie Wood, CEO of Ark Invest, has been buying Nvidia stock in large quantities before the earnings report. Over three recent trading days, July 28, August 5, and August 10, she purchased $59.9 million worth of Nvidia shares for her firm's exchange-traded funds (ETFs).

The purchases were spread across five of Ark Invest's ETFs: Ark Innovation, Next Generation Internet, Autonomous Technology & Robotics, Fintech Innovation, and Space & Defense Innovation. Notably, the size of each purchase increased over time.

Nvidia has a strong track record in AI infrastructure, with major hyperscalers such as Amazon, Meta Platforms, Microsoft, and Alphabet investing heavily in new data centers. The company has also partnered with leading financial institutions to raise $500 billion in third-party capital for AI infrastructure serving frontier AI labs, enterprise firms, and AI cloud companies.