On Wednesday, Cathie Wood-led Ark Invest executed significant trades involving Tempus AI Inc (NASDAQ:TEM) and Advanced Micro Devices Inc (NASDAQ:AMD).
The Tempus AI Trade
ARK Genomic Revolution ETF (BATS:ARKG) and ARK Innovation ETF (BATS:ARKK) funds made substantial purchases of Tempus AI Inc shares. The ARKG fund acquired 21,997 shares, while ARKK added 123,797 shares. With a closing price of $53.50, the total value of these transactions amounted to approximately $7.8 million.
Tempus AI recently reported a 36.1% increase in first-quarter revenue, driven by strong demand for its oncology diagnostics and AI-driven data business. Despite widening its net loss, the company raised its full-year revenue outlook.
The Nancy Pelosi-backed company’s quarterly revenue reached $348.1 million, surpassing analyst expectations of $345.5 million. The company’s diagnostics revenue rose by 34.7%, fueled by a 28% increase in oncology volume growth. Meanwhile, its data and applications revenue climbed 40.5% to $87 million.
The AMD Trade
Ark Invest’s ARKK fund reduced its position in Advanced Micro Devices Inc by selling 18,909 shares, valued at approximately $8 million based on AMD’s closing price of $421.39.
AMD recently achieved new all-time highs, buoyed by first-quarter results and second-quarter guidance that exceeded expectations. The company is well-positioned to capitalize on increasing server CPU demand driven by Agentic AI.
Notably, Wood sold $16 million worth of AMD stock on Tuesday as the stock rallied after the earnings release.
Other Key Trades:
- Sold 45,625 shares of Twist Bioscience Corp (TWST) across ARKG and ARKK.
- Bought 28,220 shares of Intellia Therapeutics Inc (NTLA) in ARKK.
Benzinga Edge Stock Rankings indicate AMD stock has a Momentum score in the 96th percentile and a Value score in the 5th 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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