- Ark Invest purchased over $56 million in shares of Alphabet, the parent company of Google, along with investments in crypto firms on Tuesday.
- The firm also acquired shares of Coinbase, stablecoin issuer Circle, and its own Bitcoin ETF, ARK 21Shares Bitcoin ETF (ARKB).
- These purchases follow the launch of Google’s new AI model, Gemini 3, and coincide with share price gains for GOOG.
- Cathie Wood maintains that the current AI investment cycle is distinct from the early 2000s tech bubble, citing the readiness of AI technologies today.
- Ark Invest has also increased holdings in AI cloud computing CoreWeave and Meta, while moderating its Bitcoin Price forecast due to stablecoin growth.
Ark Invest expanded its holdings on Tuesday by acquiring more than 174,000 shares of Alphabet (GOOG), representing a purchase exceeding $56 million. The investment firm also bought $3.75 million in shares of crypto exchange Coinbase, $7 million in shares of stablecoin issuer Circle, and nearly $2 million worth of its own Bitcoin ETF, the ARK 21Shares Bitcoin ETF (ARKB).
This significant acquisition of Google stock comes shortly after the company introduced Gemini 3, its latest and most powerful Artificial Intelligence model. Additionally, Google is reportedly in discussions with major cloud firms about selling its in-house chips, as noted in a report from the Wall Street Journal. Over the past five trading sessions, GOOG shares rose by more than 8.9%, trading at $319.11 and marking a 22% increase in the previous month. The stock has appreciated nearly 90% in six months, pushing the market capitalization to approximately $3.816 trillion, surpassing the entire crypto market’s valuation at the time.
Beyond Google, the firm invested $29.4 million in AI cloud company CoreWeave (CRWV) and $21.5 million in Meta, the parent company of Facebook. Despite some concerns from investors about an AI-driven bubble, Cathie Wood expressed confidence in the sector. On an Ark Invest podcast, Wood stated, “The fact that so many people are worried that we are in an AI cycle, like the tech and telecom bubble, actually reassures me. It’s very different from what happened during the tech and telecom bubble.” She highlighted that unlike the early 2000s, where tech companies were founded on speculative expectations, current AI technologies are operational and market-ready.
Market uncertainty, partly influenced by macroeconomic factors such as information gaps during a government shutdown, has caused broader market volatility. Nonetheless, Ark Invest has continued to increase its positions. Last week, it added significant shares in Coinbase and Ethereum treasury company BitMine Immersion Technologies (BMNR). The firm also acquired more shares of Circle as its USDC stablecoin price returned to levels not seen since its strong IPO performance in June.
Earlier this month, Wood revised her 2030 Bitcoin price forecast downward from $1.5 million to $1.2 million per coin, attributing the adjustment to the rapid rise of stablecoins.
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