Artificial intelligence statement from the famous investor who bought Nvidia at $4

Cathie Wood says her company, Ark Investment, was affiliated with Nvidia Corp. before last year's rally. Despite reducing its holdings, it remains well positioned in AI assets, she said.

The chip maker at the center of the artificial intelligence boom has seen another 15 percent share price increase since May 24, when sales in the first quarter beat analyst estimates and also beat forecasts in its second quarter forecast. The share price has increased almost 8x since late 2022, reaching approximately $1,224. On the other hand, its market value reached $3 trillion, surpassing Apple Inc.

"We were saying to ourselves, if Nvidia is going to continue going this way, the only reason it deserves it is because it's going to benefit a lot of other companies, and we started looking at what other companies could be," Wood said.

While Wood doesn't think the semiconductor game is over, there is a pause as companies evaluate their strategic approaches to AI. He added that some other companies that Ark expected to generate revenue from AI this earnings season failed to do so, citing Salesforce Inc. as the most notable example.