This article first appeared on GuruFocus.
Cathie Wood made a sizable move into Alphabet (GOOG, Financials) , adding more than 174,000 shares across four Ark Invest ETFs as the company’s valuation edged closer to the $4 trillion mark. Most of the buying came through the ARK Innovation ETF, which picked up more than 113,000 shares, with the rest split among ARKQ, ARKW and ARKX.
At Alphabet’s $323.64 close, the new stake was valued at roughly $56 million. The buying followed a surge of interest around Google’s AI efforts, including reports that Meta may adopt Google’s AI chips and renewed attention on Gemini, Google’s in-house AI model.
Ark also picked up nearly 34,000 Meta shares as its stock rose more than 3%. The developments sparked volatility in the semiconductor sector, with AMD sliding after concerns that Meta could shift some demand away from Nvidia GPUs. Ark responded by selling more than 100,000 AMD shares, while adding roughly 396,000 shares of CoreWeave across its funds. CoreWeave slipped 3% on worries about its exposure to Nvidia demand.