Cathie Wood Trims AMD Stake as Nvidia Becomes Top Purchase

ARK Innovation ETF (ARKK), led by Cathie Wood, made significant adjustments to its technology holdings in the week ending October 2. The fund's most notable move was a substantial reduction in Advanced Micro Devices (AMD), selling 181,767 shares valued at approximately $111.1 million. This marked the largest reduction disclosed for the week.

Concurrently, ARK increased its exposure to Nvidia, purchasing 356,681 shares worth around $81 million. The fund also added to its positions in Broadcom, buying 76,263 shares valued at $13.1 million, and increased its stake in CoreWeave by $7.3 million. These moves suggest a strategic shift in the composition of ARK's semiconductor investments rather than a broad retreat from AI infrastructure.

Cathie Wood also continued to diversify her fund's risk exposure. ARK acquired $29.7 million worth of Intellia Therapeutics, $20.8 million of BWX Technologies, and $12.5 million of Tesla. Smaller purchases included Airbnb, Amazon, Cerebras Systems, and Rocket Lab.

On the selling side, the fund reduced its holdings in 10x Genomics by $9.7 million and Tempus AI by $6.2 million, alongside smaller sales of Alphabet and Palantir. The next key indicator for investors will be whether ARK continues to accumulate Nvidia while reducing AMD, which could signal a more deliberate semiconductor rotation.