Cathie Wood's Monday Moves: Ark Bets On Nvidia-Supplier TSMC, Sells $6.5 Million Of Mark Zuckerberg's Meta Shares

On Monday, Cathie Wood-led Ark Invest made significant trades involving Taiwan Semiconductor Manufacturing Co Ltd (NYSE:TSM) and Meta Platforms Inc (NASDAQ:META).

The TSMC Trade saw Ark Invest making substantial purchases of the Taiwan-based chip giant’s shares. The Ark Innovation ETF (NYSE:ARKK) and ARK Next Generation Internet ETF (BATS:ARKW) collectively acquired 197,776 shares. This move comes as TSMC collaborates with Nvidia and Foxconn to develop a powerful AI supercomputer in Taiwan. The partnership aims to enhance AI computing infrastructure in Asia, potentially boosting TSMC’s technological edge.

However, TSMC’s Arizona factory has faced challenges, incurring a $441 million loss due to supply chain and labor cost issues. On Monday, TSMC shares ended the day 0.4% lower at $193.50 in New York. Ark’s trade was valued at $3.83 million.

The Meta Platforms Trade involved Ark Invest reducing its holdings in the Mark Zuckerberg-led social media behemoth. The ARKK and ARKW ETFs sold a total of 101,251 shares. This decision coincides with Meta’s ongoing legal battles, including a plea to dismiss an FTC antitrust case. The case could significantly impact Meta’s market dominance. Despite these challenges, Meta has ambitious plans to generate up to $1.4 trillion in revenue from generative AI products by 2035. Meta shares ended the day at $640.43. Ark’s Meta sale was estimated to be worth $6.5 million.

Other Key Trades:

• ARKW sold 5,988 shares of Jack Dorsey-led Block Inc. (XYZ)
• ARKW bought 106,061 shares of GitLab Inc. (GTLB).
• ARKW sold 57,013 shares of CoreWeave Inc. (CRWV).
• ARKW bought 90,233 shares of Nextdoor Holdings Inc (KIND).
• ARKX bought 16,057 shares of Blade Air Mobility Inc. (BLDE).

Taiwan Semiconductor has a Momentum in the 82nd percentile and a Value in the 51st percentile, according to Benzinga Edge Stock Rankings. Does Nvidia rank better in terms of Value? Find out here.

Photo Courtesy: ChrisStock82 on Shutterstock.com

Read Next: 

• Peter Schiff Slams Trump’s ‘Eat The Tariffs’ Message To Walmart: He Might As Well Ask It To Eat ‘Rent, Wages, Insurance…’

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