Cathie Wood’s Ark Invest made a series of big moves during the first week of August, buying heavily into space, AI infrastructure, and crypto while cutting exposure to gaming, software, and healthcare names.
SpaceX was Ark’s largest purchase of the week. The firm bought 316,963 shares across four funds for a combined value of around $36.9M. Ark stepped in on August 5 when the stock fell 13.6% following its first earnings report as a public company. SpaceX posted revenue of $7.8B, up 92% year over year, but investors initially reacted negatively to its high AI infrastructure spending. Ark bought again on August 7 as the stock rebounded 15.8%.
Space Exploration Technologies Corp., SPCX
Circle Internet Group was the top crypto buy of the week. Ark purchased 610,177 shares worth roughly $39M. The buying came after Circle’s second quarter revenue missed expectations. Circle’s USDC stablecoin circulation grew 19% year over year to $73.3B, while onchain transaction volume jumped 151% to $14.8T.
Coinbase was another major addition. Ark bought 114,444 shares worth around $17M. Block was also added, with 267,676 shares purchased for about $21M.
Ark bought 169,616 shares of CoreWeave for $13.2M, adding to its bet on GPU-powered cloud infrastructure. The firm also picked up 65,677 shares of Cerebras Systems for $13.1M, a company focused on AI computing hardware.
Nvidia was added across five funds, with 80,415 shares purchased for about $17.6M. Nvidia’s data center networking revenue rose nearly 200% year over year last quarter. The four largest hyperscalers plan to spend up to $725 billion this year, up 77% year over year, and Nvidia is expected to capture a large portion of that.
Cloudflare was bought and sold in the same week. Ark sold shares earlier in the week, then reversed course and bought 114,134 shares worth $35.4M after Cloudflare reported 35.9% revenue growth and raised its full-year outlook. Amazon was also added, with 73,835 shares purchased for around $21M.
Roblox was the largest reduction by far. Ark sold 2.64M shares worth roughly $96M, including 1.6M shares from a single fund on August 7 alone. The stock rose 4.9% that day.
Shopify saw $35M in shares sold across three funds. Palantir was cut by $21M. Smaller reductions included AMD, Snowflake, CrowdStrike, Natera, and Roku.
Industrial names including Caterpillar, Garmin, Deere, and Komatsu were also trimmed.
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