Cathie Wood's Monday Moves: Ark Bets On Nvidia-Supplier TSMC, Sells $6.5 Million Of Mark Zuckerberg's Met

On Monday, Cathie Wood-led Ark Invest made significant trades involving Taiwan Semiconductor Manufacturing Co Ltd (NYSE:TSM) and Meta Platforms Inc (NASDAQ:META).

The TSMC Trade saw Ark Invest making substantial purchases of the Taiwan-based chip giant’s shares. The Ark Innovation ETF (NYSE:ARKK) and ARK Next Generation Internet ETF (BATS:ARKW) collectively acquired 197,776 shares. This move comes as TSMC collaborates with Nvidia and Foxconn to develop a powerful AI supercomputer in Taiwan. The partnership aims to enhance AI computing infrastructure in Asia, potentially boosting TSMC’s technological edge.

However, TSMC’s Arizona factory has faced challenges, incurring a $441 million loss due to supply chain and labor cost issues. On Monday, TSMC shares ended the day 0.4% lower at $193.50 in New York. Ark’s trade was valued at $3.83 million.

The Meta Platforms Trade involved Ark Invest reducing its holdings in the Mark Zuckerberg-led social media behemoth. The ARKK and ARKW ETFs sold a total of 101,251 shares. This decision coincides with Meta’s ongoing legal battles, including a plea to dismiss an FTC antitrust case. The case could significantly impact Meta’s market dominance. Despite these challenges, Meta has ambitious plans to generate up to $1.4 trillion in revenue from generative AI products by 2035. Meta shares ended the day at $640.43. Ark’s Meta sale was estimated to be worth $6.5 million.

Other Key Trades:

ARKW sold 5,988 shares of Jack Dorsey-led Block Inc. (XYZ)
ARKW bought 106,061 shares of GitLab Inc. (GTLB).
ARKW sold 57,013 shares of CoreWeave Inc. (CRWV).
ARKW bought 90,233 shares of Nextdoor Holdings Inc (KIND).
ARKX bought 16,057 shares of Blade Air Mobility Inc. (BLDE).

Taiwan Semiconductor has a Momentum in the 82nd percentile and a Value in the 51st percentile, according to Benzinga Edge Stock Rankings. Does Nvidia rank better in terms of Value? Find out here.