Ark Invest Buys $8.5M in Cerebras While Continuing to Exit AMD

Benzinga reported Tuesday that Ark Invest Cerebras exposure grew sharply this week as founder Cathie Wood made two notable moves. Her firm purchased Cerebras Systems shares while simultaneously trimming its position in Advanced Micro Devices for at least the second time in a matter of days.

Ark Doubles Down on Cerebras AI Chips

Ark Invest acquired roughly 33,000 shares of Cerebras Systems through one of its ETFs on Tuesday. The purchase is valued at approximately $8.5 million. The firm had also picked up about 42,000 additional Cerebras shares the prior Friday, a transaction worth around $10.8 million at that session’s closing price. Together, the two buys represent a swift and sizeable accumulation in the AI chip upstart. Cerebras, which trades under the ticker CBRS, has drawn attention for developing large-scale AI inference hardware that rivals Nvidia’s dominant products.

AMD Sales Continue Through May

While Wood has been adding Cerebras exposure, she has been steadily unwinding her firm’s stake in Advanced Micro Devices. On Tuesday, Ark sold roughly 5,300 AMD shares through its ARK Next Generation Internet ETF, a transaction valued near $2.7 million. That sale followed a smaller disposal the previous Friday. Benzinga noted the offloading has been consistent across the month, with Ark shedding millions of dollars worth of AMD throughout May.

Background on AMD’s Position

Advanced Micro Devices, led by CEO Lisa Su, has been scaling production of its Vera Rubin platform, a move that signals heightened demand from its manufacturing partners in Taiwan. The company has faced a persistent headwind, however, from U.S.-China trade policy. China represents a meaningful share of AMD’s net revenue, and ongoing export restrictions have clouded the near-term revenue outlook. Benzinga’s own stock-ranking data shows AMD sits in the 98th percentile for momentum but ranks near the bottom on value metrics, placing it in the 3rd percentile.

Other Notable Ark Trades This Week

Beyond the headline moves, Ark also sold roughly 17,000 shares of test-and-measurement firm Teradyne from its flagship ARK Innovation ETF. On the buy side, the firm picked up approximately 2,450 shares of genomics company Twist Bioscience through the same fund. The combination of moves suggests Ark is actively rotating capital toward AI-adjacent hardware while reducing exposure to legacy semiconductor names and other technology holdings.

Wood’s consistent trimming of AMD alongside aggressive buying of Cerebras points to a clear conviction shift. Ark appears to view Cerebras as a more direct beneficiary of the current wave of AI infrastructure spending than the larger, more diversified chipmakers it previously favored.

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