As the artificial intelligence boom continues to sweep the world's stock markets, "Sister Wood" Wood is reducing her holdings in the world's leading chip company.

Wood is one of the most recognized names in predicting that AI will be a game-changer. Still, she spent all of last year selling shares of Nvidia, betting on the growth potential of lesser-mentioned software companies like UiPath $UiPath(PATH.US)$ and Twilio $Twilio(TWLO.US)$ .

Shares of NVIDIA have surged more than 239% in 2023 and are up more than 59% so far this year, according to the data. But despite Wood's publicly stated belief in the disruptive technologies of the future, her Ark fund has not enjoyed the dividends of NVIDIA's surge. In the story described by Wood, it all seems to be carefully designed, she believes that Nvidia "too dazzling", and she prefers those low-key technology companies.

Ark Investment Management researchers wrote on its website last August that Ark expects AI-driven market gains to expand and favors investments outside the major indexes, namely the S&P 500 and Nasdaq 100. The asset manager believes that weighted stocks such as Nvidia are overvalued and tends to look for potential AI tech stocks that are undervalued and untapped by capital. $NVIDIA(NVDA.US)$ $Taiwan Semiconductor(TSM.US)$