Cathie Wood's Ark Invest Swoops In To Buy AMD Shares As Nvidia Looms Large

Benzinga10-10

On Wednesday, Cathie Wood-led Ark Invest made a significant move in the semiconductor sector, with a notable purchase of shares in Advanced Micro Devices Inc . This trade comes amidst a dynamic landscape in the semiconductor industry, with AMD showing resilience.

The AMD Trade

On Wednesday, ARK Autonomous Technology & Robotics ETF and ARK Space Exploration & Innovation ETF purchased a total of 3,000 shares of AMD, valued at approximately $513,060 based on the closing price of $171.02 on the day of the trade. This move comes in the wake of aKeyBanc analyst’s mixed quarterly supply chain findingsfor the semiconductor sector, with AMD standing out in the pack.

The analyst noted sustained strength in traditional server and AI, with AMD’s competitor, Blackwell from Nvidia Corp, set to launch in the fourth quarter without further delays.

Nvidia, despite concerns over AI spending, has continued to defy expectations and approached Apple’s market capitalization.

Recently, AMD CEO Lisa Su highlighted the potential shift toward custom AI chips offering greater efficiency and lower costs, hinting at competition with Nvidia. While Nvidia remains dominant with GPUs for AI and gaming, Su emphasized the future will involve diverse chip architectures, with AMD focusing on mainstream GPUs and data center growth.

Other Key Trades:

Ark Invest’s ARKG and ARKK funds bought a total of 425,213 shares of Recursion Pharmaceuticals Inc . The ARKG fund also purchased 17,542 shares of 10X Genomics Inc (TXG).

Meanwhile, ARKQ sold shares of Markforged Holding Corp and bought shares of Blade Air Mobility Inc . The ARKX fund followed suit, selling shares of Markforged and buying shares of Blade Air Mobility.

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Comments

  • 3nn
    10-11
    3nn
    Haha whatever she touches dips another jinx..just do opposite of what she does
  • Guavaxf30
    10-11
    Guavaxf30
    Opps. She did it again. Buy high, now a falling knife.
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