Cathie Wood Reworks Major Nvidia-AMD Position

Cathie Wood’s Ark Invest made a sharp semiconductor rotation last week, buying heavily into Nvidia NVDA while cutting more than $100 million of Advanced Micro Devices AMD.

The move stands out because Ark added 356,681 Nvidia shares worth about $81 million during the week ended October 2, while selling 181,767 AMD shares worth roughly $111.1 million.

That made AMD by far Ark’s largest reduction during the period.

Ark also increased exposure to other semiconductor and AI infrastructure names.

The funds bought 76,263 Broadcom shares worth $13.1 million, added 254,550 CoreWeave shares valued at $7.3 million, and purchased 172,005 shares of BWX Technologies worth $20.8 million.

Biotechnology was another major focus.

Ark bought 1.59 million shares of Intellia Therapeutics worth $29.7 million, making it one of the week’s largest purchases. It also added 355,184 Veracyte shares worth about $11.4 million.

At the same time, Ark reduced positions in 10x Genomics by $9.7 million and Tempus AI by $6.2 million.

The firm also continued adding to Elon Musk-linked exposure, purchasing 48,352 Tesla TSLA shares worth $12.5 million and making a smaller addition to SpaceX.

Other purchases included Airbnb, Amazon AMZN, Cerebras Systems and Rocket Lab, while Ark trimmed Alphabet, Palantir PLTR, Zillow and Twist Bioscience.

Investors Takeaway

The clearest signal from the week was Ark’s willingness to rotate aggressively within semiconductors rather than simply increase broad AI exposure.

The contrast…