Cathie Wood's ARK Invest scooped up over $40 million in shares of Tesla, SpaceX, and Nvidia on July 28 despite a global tech sell-off, targeting AI and semiconductor stocks.
The firm acquired 40,281 Tesla shares, spread across four ETFs, totaling about $12.38 million at Tuesday’s closing price of $307.44. The ARK Innovation ETF (ARKK) led with 26,920 shares, while ARK Autonomous Technology & Robotics ETF (ARKQ), ARK Next Generation Internet ETF (ARKW), and ARK Space & Defense Innovation ETF (ARKX) purchased smaller portions.
SpaceX was another big bet, with ARK adding 105,108 shares valued near $12.24 million. Most came through ARKK, which took 70,773 shares. This move follows $14 million spent earlier in the week, doubling down on Elon Musk’s space venture amid market jitters.
Nvidia Purchases Amid Price Drop
ARK also bought 78,965 Nvidia shares worth about $15.56 million. Every active ARK ETF acquired Nvidia stock, with ARKK again making the largest purchase. This comes after Nvidia’s shares slipped sharply on concerns over AI infrastructure costs and Apple overtaking it as the most valuable public company.
The semiconductor sector continues to suffer, reflecting broader investor caution. ARK’s investments highlight a confident bet on technology giants despite the recent volatility.
This material is for informational purposes only and does not constitute financial advice.
