Cathie Wood is doubling down on some of Wall Street’s biggest artificial intelligence winners while cutting exposure to other high-profile AI names, offering a fresh glimpse into how the ARK Investment Management founder is repositioning her technology bets through her ETFs.
In Friday’s trading activity, ARK added shares of Nvidia Corp. (NASDAQ:NVDA), Advanced Micro Devices Inc. (NASDAQ:AMD) and Alphabet Inc. (NASDAQ:GOOG), while trimming positions in Broadcom Inc. (NASDAQ:AVGO) and CoreWeave Inc. (NASDAQ:CRWV).
The contrasting moves suggest a portfolio reshuffle rather than a retreat from the AI trade, with Wood continuing to seek opportunities across semiconductor manufacturers, technology platforms and AI infrastructure.
The transactions also highlight the different ways investors can access the AI theme through ARK’s actively managed ETFs and traditional semiconductor funds.
ARK’s Latest Trades Reveal a Selective AI Bet
The Friday purchases were spread across ARK’s technology-focused funds, although the individual transactions were relatively small.
According to ARK’s daily trade disclosures, ARK Next Generation Internet ETF (BATS:ARKW) bought 405 Nvidia shares worth approximately $75,600, 519 AMD shares worth $233,100 and 1,076 Alphabet shares worth $305,500.
ARK Innovation ETF (BATS:ARKK) also added approximately $1.7 million worth of Alphabet shares, purchasing 6,000 shares.
On the other side of the trade, ARKK sold 8,662 Broadcom shares worth approximately $2.54 million and 50,631 CoreWeave shares valued at roughly $2.35 million.
The moves followed a much larger round of transactions on Thursday, when ARK bought approximately $45.9 million of Nvidia, $19.8 million of AMD and $15.1 million of Alphabet, while selling a substantial amount of Broadcom stock.
The timing is notable. Rather than simply increasing exposure to every company benefiting from AI infrastructure spending, ARK appears to be making more selective bets across the semiconductor and technology ecosystem.
Why Nvidia and AMD, But Not Broadcom?
The purchases and sales offer an interesting contrast between different segments of the AI supply chain.
Nvidia remains a central beneficiary of demand for AI accelerators, while AMD is seeking to expand its position in the data-center GPU market. Alphabet, meanwhile, offers exposure to AI through its cloud infrastructure, proprietary chips and Gemini ecosystem.
Broadcom has a different position in the ecosystem, with its custom AI accelerators and networking solutions making it an important supplier to large technology companies building AI infrastructure.
CoreWeave, meanwhile, operates specialized cloud infrastructure for AI workloads, offering access to high-performance computing capacity.
ARK’s decision to trim Broadcom and CoreWeave while adding to Nvidia and AMD does not necessarily signal a negative long-term view of the two companies. However, it highlights how actively managed funds can rotate between different beneficiaries of the same investment theme.
The broader backdrop also matters. Concerns about the scale of AI infrastructure spending, the pace of monetization and the returns on data-center investments have made the sector increasingly sensitive to valuation and capital expenditure expectations.
ARKW vs. SMH: Which ETF Offers Better AI Exposure?
For investors looking to follow ARK’s latest moves, ARKW offers a particularly interesting comparison with the VanEck Semiconductor ETF (NASDAQ:SMH).
The two funds provide exposure to AI, but their investment approaches differ considerably.
ARKW provides broader exposure across the technology ecosystem, including semiconductor companies, cloud computing and internet businesses. Its portfolio includes Nvidia at approximately 4.23%, CoreWeave at 2.73%, AMD at 2.78% and Broadcom at 2.11%.
SMH, on the other hand, offers more concentrated exposure to semiconductor manufacturers and suppliers.
As of Nov. 6, Nvidia accounted for 20.75% of SMH’s portfolio, followed by Broadcom at 5.70% and AMD at 5.17%.
| Stock | ARKW | SMH |
|---|---|---|
| Nvidia | 4.23% | 20.75% |
| AMD | 2.78% | 5.36% |
| Broadcom | 2.11% | 5.70% |
| CoreWeave | 2.73% | Not a holding |
ARKW weights as of Nov. 9; SMH weights as of Nov. 6, 2026. Holdings change daily.
The distinction is important. Investors choosing ARKW are getting exposure to a wider range of technology businesses, while SMH offers a more concentrated bet on semiconductor demand.
SMH also illustrates an important difference in strategy. Despite ARK trimming Broadcom, the semiconductor ETF maintains a sizeable allocation to the company alongside Nvidia and AMD.
ARKK closed 3.16% higher on Friday.
The latest transactions underscore the flexibility of ARK’s actively managed approach, allowing Wood to adjust individual stock exposures as investment opportunities and market conditions change.
Photo: Courtesy ARK Invest
Recent Comments