Catherine Wood, CEO and CIO of investment management firm Ark Invest, has favored two less obvious stocks in the artificial intelligence universe.
Wood said that there are two “less obvious plays” to put eyes on. The companies are:
- UiPath (PATH), based in New York – a company that builds end-to-end infrastructure that deploys and manages AI-powered automation for businesses.
- Twilio (TWLO), based in San Francisco – a business-to-consumer communication platform with engagement functionalities for developers that is powered by Uber Technologies.
At an investor conference in Munich, covered by Bloomberg on Monday, Wood said, “We’re really focused on those companies that most people aren’t talking about right now. Nvidia (NASDAQ:NVDA) is easy, but it’s also really expensive and very obvious.”
The chipmaker has seen shares surge more than 180% this year, according to Bloomberg, but Ark Innovation ETF Fund cut its holdings in the stock in January and did not participate in the $1 trillion valuation the company received.
