Cathie Wood deems Nvidia stock overvalued despite 2023 rally miss.

Cathie Wood, founder of Ark Invest, has called Nvidia stock "overpriced" after missing out on the company's recent rally. Wood sold her holdings in Nvidia back in January, and since then, the stock has more than doubled. Wood argues that there will be "dozens" of winners in the AI space outside of Nvidia, with Tesla being the most obvious beneficiary of recent breakthroughs in AI. Wood's comments come as her flagship ETF, the Ark Innovation Fund, has struggled to return to its pandemic dominance.