Cathie Wood: Nvidia is too obvious, Tesla is the best AI play.

Not even ARK can find a way to justify Nvidia’s valuation (these are the same folks that are projecting Bitcoin will reach $1.5 million per coin).

Cathie Wood told Bloomberg that Nvidia is too obvious of a bet, and that there are less conspicuous AI plays that have more upside potential. She mentioned Teradyne, a US company that manufactures test equipment for semiconductors; and Tesla, the ARK Innovation ETF's (ARKK) largest holding and what Cathie calls the “biggest AI-play opportunity out there.”

https://www.bloomberg.com/news/articles/2023-07-17/cathie-wood-says-ark-has-moved-beyond-nvidia-as-obvious-ai-buy-lk7eatb4

This comes after the ARKK closed its Nvidia position back in January, missing out on most of the semi company’s 227% rally this year.