Cathie Wood Jumps Ship on AMD, Places Bets on Nvidia and Broadcom

Cathie Wood's investment firm, Ark Invest, made significant changes to its portfolio last week by cutting ties with Advanced Micro Devices (AMD) and shifting funds into Nvidia and Broadcom.

The move saw Ark sell approximately $95 million worth of AMD shares, while purchasing nearly the same amount in Nvidia and Broadcom stocks. The Nvidia acquisition totaled around $53 million for 243,707 shares, while Broadcom's valuation stood at about $41 million for 112,836 shares.

This transaction marks a significant shift in Ark's semiconductor exposure, with Nvidia emerging as a key player due to its dominance in AI accelerators. Meanwhile, Broadcom has gained traction in the market due to increasing demand for networking and specialized AI chips.