Why high-conviction investor Cathie Wood bought Nvidia after it erased billions from May high

Cathie Wood’s Ark Invest bought nearly 78,965 shares of Nvidia across its five largest ETFs, worth around $15.5 million, after the AI chipmaker’s recent decline. The purchase reflects renewed confidence in Nvidia’s long-term AI growth prospects, despite the stock falling over 6% in the past five sessions and about 17% from its mid-May peak.