Cathie Wood’s ARK Invest bought nearly $53 million of Nvidia stock after the AI chipmaker pulled back from its explosive post-earnings rally, while simultaneously selling tens of millions of dollars worth of rival Advanced Micro Devices shares.
ARK acquired 243,707 Nvidia shares on Friday, Aug. 28, worth about $53 million based on NVDA’s $217.55 closing price, according to ARK trading disclosures cited by Barron’s and other market reports.
The timing stands out. Nvidia had fallen 4.6% Friday after surging the previous session on a blockbuster earnings report, giving Wood an immediate post-earnings dip to buy.
But this was more than straightforward bargain hunting.
On the same day, ARK sold 156,286 AMD shares worth roughly $74.5 million and added about $20.5 million of Broadcom, effectively reshuffling a significant portion of its semiconductor exposure toward Nvidia and Broadcom.
Cathie Wood Buys Nvidia After Its Huge Earnings Rally
Nvidia gave investors plenty to digest last week.
The company reported fiscal second-quarter revenue of $96.2 billion, up 106% year over year, while delivering an outlook that reinforced expectations for another year of exceptional AI infrastructure growth. Coinpaper’s coverage of the Nvidia earnings rally highlighted how the results reignited enthusiasm across AI-linked stocks.
NVDA surged 8.7% Thursday, adding roughly $442 billion in market value in a single session before giving back part of the gain Friday.
Wood stepped in during that retreat.
Nvidia shares were back near $220 Monday, up roughly 1% during the session, suggesting ARK’s purchase came close to the bottom of Friday’s post-earnings pullback.
ARK Is Rotating From AMD Into Nvidia
The AMD sale makes Wood’s trade considerably more interesting.
Rather than merely increasing exposure to semiconductors broadly, ARK reduced its position in one major AI-chip competitor while buying another.
The firm sold about $74.5 million of AMD shares Friday—roughly $21 million more than it spent buying Nvidia—while also adding Broadcom.
That represents a notable shift at a time when investors are debating which companies will capture the next phase of AI infrastructure spending.
Nvidia’s latest results strengthened the bullish case. Reuters reported that the company expects revenue to grow roughly 70% in the next fiscal year, well above previous market expectations, while CEO Jensen Huang said demand continues to exceed available supply.
ARK itself argued this month that AI is evolving from a thematic trade into a potentially structural portfolio allocation as spending expands across semiconductors, cloud infrastructure, robotics and autonomous systems.
Wood’s Nvidia Bet Collides With Burry’s Bearish View
The purchase also sharpens a notable investor divide around Nvidia.
Michael Burry has maintained bearish exposure to NVDA and other AI-linked stocks despite acknowledging Nvidia’s extraordinary near-term operating performance. Coinpaper recently covered Burry’s Nvidia short thesis, which centers on valuation and the sustainability of massive AI capital spending.
Wood is taking the opposite side.
ARK’s $53 million Nvidia purchase immediately after earnings suggests the firm views Friday’s decline as an opportunity rather than evidence that the AI trade has become exhausted.
With NVDA already recovering toward $220 Monday, the next question is whether Wood’s post-earnings buy marks another successful dip purchase—or whether Nvidia’s enormous expectations will make further gains increasingly difficult to deliver.
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