Cathie Wood Bought The NVDA Dip Across Five Funds – Here’s What Else ARK Bought And Sold

by

ARKK and ARKG completely exited their respective positions in 10x Genomics.

  • ARK Invest bought Nvidia across five funds on Monday after NVDA stock fell 2.8%.
  • The purchases came after Nvidia unveiled financing partnerships targeting more than $500 billion in third-party capital for AI infrastructure.
  • Cloudflare was added to ARKK and ARKF the same day a SpaceX-Starlink partnership rumor sent both stocks higher in premarket trading.

Cathie Wood’s ARK Invest bought the dip in Nvidia (NVDA) on Monday after the shares fell 2.8% in the previous session, while also adding to several other AI and semiconductor-related positions.

NVDA stock recovered as much as 1% in pre-market trade on Tuesday. Retail sentiment around the Jensen Huang-led company on Stocktwits remained in ‘bullish’ territory over the past day, while chatter increased to ‘high’ from ‘normal’ levels.

NVDA stock retail sentiment on August 11 as of 6:00 a.m. ET | Source: Stocktwits

ARK Invest’s ARK Innovation ETF (ARKK), ARK Autonomous Technology & Robotics ETF (ARKQ), ARK Next Generation Internet ETF (ARKW), ARK Fintech Innovation ETF (ARKF), and ARK Space Exploration & Innovation ETF (ARKX) funds all bought Nvidia shares on Monday, according to the firm’s daily trade notification.

The company’s flagship fund, ARKK, traded roughly flat in pre-market trade on Tuesday. Retail sentiment around the fund on Stocktwits improved to ‘neutral’ from ‘bearish’ territory over the past day.

ARK Adds Cloudflare, Broadcom And Other AI Names

ARK Invest also added Cloudflare (NET) across ARKK and ARKF on Monday. NET stock rose 3.4% in the previous session before edging 0.5% lower in pre-market trade on Tuesday. Retail sentiment on Stocktwits around Cloudflare remained in ‘extremely bullish’ territory, while chatter stayed at ‘extremely high’ levels.

ARKK and ARKQ also bought Broadcom (AVGO), while ARKK added Teradyne (TER), a semiconductor test equipment maker. ARKG added to Intellia Therapeutics (NTLA) and Cerus Corp (CERS), which were also purchased by other ARK funds.

ARK Invest Buys Nvidia On AI Infrastructure Push

ARK’s Nvidia purchases came on the same day the chipmaker announced partnerships with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs, and KKR to develop financing platforms to raise more than $500 billion in third-party capital for AI infrastructure.

The financing arrangements are designed to allow Nvidia customers to borrow against chip purchases rather than pay the full cost up front. The structure could help ease some of the balance-sheet pressure created by the rapid expansion of AI infrastructure. 

SpaceX-Cloudflare Partnership In The Making?

The Cloudflare purchase followed comments from Chief Technology Officer Dane Knecht, who floated a proposal for the company to help SpaceX’s (SPCX) Starlink manage bandwidth pressure from rising AI traffic. Elon Musk was reportedly reviewing the proposal.

Cloudflare also recently reported second-quarter (Q2) revenue of about $696 million, up roughly 36% year over year, and raised its full-year revenue outlook to between $2.86 billion and $2.87 billion.

ARK Trims Palantir, Shopify – Exits TXG Stake 

Deere (DE) was trimmed in both ARKK and ARKQ, while Shopify (SHOP) was reduced in ARKW and ARKF. Brera Holdings (SLMT) also saw small reductions across ARKK, ARKW, and ARKF.

ARKK and ARKG completely exited their respective positions in 10x Genomics (TXG). TXG stock fell as much as 2.5% in pre-market trade. However, retail sentiment on Stocktwits flipped to ‘bullish’ from ‘bearish’ over the past day, accompanied by chatter at ‘high’ levels.

TXG stock retail sentiment on August 11 as of 6:15 a.m. ET | Source: Stocktwits

Other single-fund sales included Palantir (PLTR) and Elbit Systems (ESLT) in ARKQ, Snowflake (SNOW) in ARKW, Twist Bioscience (TWST) in ARKG, and Iridium Communications (IRDM) in ARKX.

PLTR stock retail sentiment on August 11 as of 6:15 a.m. ET | Source: Stocktwits

Cathie Wood’s sale of PLTR shares comes as Michael Burry re-entered out-of-the-money put trades on the Stock. He expects Palantir shares to trade below $1 in the long run. PLTR stock fell around 1% in pre-market trade. On Stocktwits, retail sentiment around Palantir fell to ‘bullish’ from ‘extremely bullish’ over the past day, and chatter fell to ‘high’ from ‘extremely high’ levels. –

Read also: S&P 500, Nasdaq, Dow Futures Mixed As CPI Countdown Begins: Why INTC, SLS, SPCX, RKLB, ASTS, RIOT, FRMI Stocks Are In Focus

For updates and corrections, email newsroom[at]stocktwits[dot]com.<

Leave a Comment