Ark Invest, led by Cathie Wood, executed significant trades on Wednesday. The investment firm made notable moves involving Cerebras Systems Inc (NASDAQ:CBRS), Advanced Micro Devices Inc (NASDAQ:AMD), and Bullish Inc. (NYSE:BLSH), reflecting strategic adjustments in its portfolio.

The Cerebras Trade

On Wednesday, Ark Invest increased its stake in Cerebras by purchasing 82,779 shares through the flagship ARK Innovation ETF (BATS:ARKK). This acquisition, valued at approximately $24.1 million, comes on the heels of Cerebras’ impressive public debut. The company, known for its advanced AI computing systems, initially priced its shares at $185 but saw them open at $350, indicating strong market interest.

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The AMD Trade

Ark Invest continued reducing its holdings in AMD by selling 26,680 shares via the ARKK ETF, amounting to about $11.9 million. AMD’s stock experienced an 8.1% surge on Wednesday, driven by speculation that the U.S. might ease restrictions on AI chip sales to China. This potential policy shift could benefit AMD by allowing exports of certain chips.

On Monday, Ark had jettisoned AMD shares worth $16.2 million. Wood has been consistently selling shares of the chipmaker this month.

The Bullish Trade

Ark Invest also increased its position in the Peter Thiel-backed Bullish, acquiring a total of 83,801 shares across the ARK Blockchain & Fintech Innovation ETF (BATS:ARKF), ARK Next Generation Internet ETF (BATS:ARKW) and ARKK ETFs. This purchase is valued at approximately $3.1 million. Despite facing bearish pressures, the crypto-trading platform reported strong first-quarter results, though uncertainties persist.

Other Key Trades:

  • Roku Inc (ROKU): Sold 102,334 shares through ARKK, ARKW and ARKF.
  • Teradyne Inc. (TER): Sold 17,372 shares via ARKK.

Benzinga Edge Stock Rankings indicate AMD stock has a Momentum score in the 98th percentile and a Value score in the 4th percentile.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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