
On Wednesday, Ark Investment purchased intriguing stocks such as Nvidia (NVDA, up 1.06%), Iridium Communications (IRDM, up 3.00%), and Teradyne (TER, up 0.88%). In fact, Wood augmented existing holdings in all these companies. Here’s a detailed examination of each:
1. Nvidia (NVDA) – A leading manufacturer of graphics processing units (GPUs) and system on chip units (SoCs), Nvidia is renowned for its work in artificial intelligence, gaming, and data centers.
2. Iridium Communications (IRDM) – This company operates the world’s only global satellite communications network, providing voice, SMS, and data services to customers worldwide. Its services are particularly useful in remote or underdeveloped areas where traditional cellular networks may not be available.
3. Teradyne (TER) – A multinational corporation that designs, manufactures, and sells automatic test equipment used for testing semiconductors, electronic products, and telecommunications equipment, among other things. Its products are essential for ensuring the quality and reliability of electronic devices.