Cathie Wood Loads Up on Cerebras Systems Stock as AI Chip Race With Nvidia Heats Up — Ark Keeps on Dumping AMD Shares

Ark Invest, led by Cathie Wood, executed significant trades on Tuesday. The investment firm made notable moves in Cerebras Systems Inc. (NASDAQ:CBRS), Tempus AI Inc. (NASDAQ:TEM), and Advanced Micro Devices Inc. (NASDAQ:AMD). These trades reflect Ark’s strategic positioning in the rapidly evolving tech landscape.

The Cerebras Trade

Ark Invest made notable investments in Cerebras Systems, purchasing 93,290 shares through the ARK Innovation ETF (BATS:ARKK) and ARK Next Generation Internet ETF (BATS:ARKW), valued at approximately $17.2 million. The trade involved the acquisition of shares valued at approximately $183.91 each.

The firm capitalized on the company’s recent advancements in AI technology. Cerebras recently unveiled its CS-4 system, which claims to outperform traditional GPU-based systems by a significant margin. This development positions Cerebras as a formidable player in the AI inference market, challenging industry giants like Nvidia. The CS-4 system’s ability to process over 4,400 tokens per second per user marks a considerable improvement over its predecessor.

The Tempus AI Trade

Another significant move by Ark Invest was its disinvestment in Tempus AI. The company has been in the spotlight following its involvement in a groundbreaking clinical trial with Merck & Co. and Moderna. The trial demonstrated the efficacy of a custom mRNA-based cancer treatment, leading to a surge in Tempus’s stock value.

Ark sold 57,819 shares of Tempus AI through ARKK; the transaction was valued at nearly $4 million. The stock ended the day at $68.73.

The AMD Trade

Ark Invest also made a strategic move with AMD. The Lisa Su-led company has been gaining traction in the CPU market, with projections suggesting it could surpass Intel by 2027. Investment firm Raymond James recently upgraded AMD to a strong buy, citing its robust earnings potential and market-share gains. The firm’s optimistic outlook on AMD’s trajectory aligns with Ark’s investment strategy.

Ark sold $3.6 million worth of AMD stock. The 7,600 shares were shed from the ARKW fund. AMD closed at $479.18 on Tuesday.

Notably, last week Ark also reduced its holdings of AMD stock.

Other Key Trades

• Sold 5,504 shares of Brera Holdings PLC (SLMT) through the ARKK, 2,179 shares through ARKW and 1,380 shares through ARKF.
• Bought 44,062 shares of Twist Bioscience Corp. (TWST) through ARKK.

Benzinga Edge Stock Rankings indicate AMD stock has a Momentum score in the 97th percentile and a Value score in the 4th percentile.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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