Cathie Wood’s China Bet: Ark Buys Alibaba’s AI Surge And Baidu’s Autonomous Future, Dump’s Stock Of Crypto-Pivot Brera
On Tuesday, Cathie Wood-led Ark Invest made significant trades involving Baidu Inc. (NASDAQ: BIDU), Alibaba Group Holding Ltd. (NYSE: BABA), and Brera Holdings PLC (NASDAQ: BREA). The Baidu Trade ARK Innovation ETF (BATS: ARKK) purchased 52, 388 shares of Baidu. The trade, valued at approximately $6. 9 million, comes amid Baidu’s aggressive expansion of its Apollo Go robotaxi business into new markets. Baidu is in talks with governments in Australia and Southeast Asia to introduce its autonomous vehicles. This expansion follows the granting of 50 trial licenses in Dubai, allowing Baidu to expand its fleet in the UAE, according to a recent report. The Alibaba Trade ARKK acquired 23, 538 shares of the Jack Ma-founded company. The transaction, valued at around $4. 1 million, aligns with Alibaba’s recent stock performance, which has been buoyed by its push into cloud computing and .
