Cathie Wood Strengthens AI Chip Holdings With Nvidia And AMD Purchases, Reduces Palantir Position By Another $38.8 Million

On Wednesday, Cathie Wood‘s Ark Invest made notable trades involving Nvidia Corp. NVDA, Advanced Micro Devices Inc. AMD, Palantir Technologies Inc. PLTR, and Tempus AI Inc. TEM. These trades reflect Ark’s ongoing strategy to adjust its portfolio in response to market dynamics and company performance.

The Nvidia Trade saw Ark Invest making significant purchases of the Jensen-Huang-led tech giant. shares across its ARK Innovation ETF ARKK, ARK Autonomous Technology & Robotics ETF ARKQ, ARK Next Generation Internet ETF ARKW, and ARK Fintech Innovation ETF ARKF. NVIDIA, a leader in AI and graphics processing, has been experiencing a surge in its stock value, partially driven by strong earnings from tech giants like Microsoft Corp and Meta Platforms Inc. On Wednesday, Ark Invest acquired 64,838 shares in ARKK, 11,464 shares in ARKQ, and 19,645 shares in ARKW. The firm also picked up 11,714 shares through ARKF. With NVIDIA’s stock closing at $117.06, the total value of these purchases is approximately $12.6 million. 

The AMD Trade involved Ark Invest buying shares of the chipmaker across multiple ETFs, including ARKK, ARKQ, ARKW, and ARKX. AMD has been gaining traction in the data center and AI chip markets, buoyed by a recent strategic investment from Amazon.com Inc. On Wednesday, Ark Invest purchased 74,648 shares in ARKK, 13,198 shares in ARKQ, 22,617 shares in ARKW, and 4,118 shares in ARKX. With AMD’s stock closing at $100.36, the total value of these acquisitions is approximately $11.5 million. 

The Palantir Trade saw Ark Invest reducing its stake in the Alex Karp-led company across several ETFs, including ARKF, ARKK, ARKQ, ARKW, and ARK Space Exploration & Innovation ETF ARKX. Despite Palantir’s strong first-quarter earnings, its stock has faced downward pressure. On Wednesday, Ark Invest sold 12,217 shares in ARKF, 270,498 shares in ARKK, 23,914 shares in ARKQ, 3,731 shares in ARKX, and 40,980 shares in ARKW. With Palantir’s stock closing at $110.48, the total value of these sales is approximately $38.8 million. Notably, Wood had sold $41 million worth of Palantir shares on Tuesday. Palantir is now Ark’s fifth-largest holding, making up 6.62% of the portfolio with a total value of $324.4 million.

The Tempus AI Trade involved Ark Invest purchasing shares of the company through its ARKK ETF. Tempus AI, a company focused on precision medicine, recently reported strong first-quarter results, leading to a surge in its stock price. On Wednesday, Ark Invest acquired 75,020 shares of Tempus AI. With the stock closing at $58.76, the total value of this purchase is approximately $4.4 million. Tempus AI’s performance has been promising, with the company’s first-quarter revenue coming in at $255.74 million, beating estimates of $248.13 million.

Other Key Trades:

• Ark Invest bought shares of CRISPR Therapeutics AG in ARKK and ARKG.
• Ark Invest sold shares of Arcturus Therapeutics Holdings Inc. in ARKG.
• Ark Invest acquired shares of GitLab Inc. in ARKK.

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This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal