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Cathie Wood’s ARK Invest loaded up on Nvidia on Tuesday (Sept 29), buying 356,681 shares worth about $81 million across its ARKK, ARKQ, ARKW, and ARKX ETFs at a closing price of $227.21, according to Benzinga’s tracking of ARK’s daily trades. The buying came a day after Nvidia expanded its buyback authorization by $150 billion to $235 billion through fiscal 2028 — the largest ever disclosed by a US company.
What happened
ARK was a net buyer of AI hardware on the day. Alongside Nvidia, it added 48,352 Tesla shares (worth roughly $17.1 million) and 76,263 Broadcom shares (about $27.1 million). On the other side of the ledger, ARK sold roughly $110 million of AMD — a striking rotation given AMD’s recent run to a $1 trillion market capitalization.
Why it matters
The trades signal a visible institutional rotation: loading Nvidia right after its record capital return, trimming AMD after its run to a $1 trillion valuation, and adding Broadcom despite a Chinese regulatory review of its data-center switches. Tesla also drew buying even as the shares fell 7.13% over five days following JPMorgan’s price-target cut to $415.
- 356,681 NVDA shares bought (~$81M) at $227.21
- ~$110M of AMD sold
- 48,352 TSLA shares bought (~$17.1M) as TSLA fell 7.13% over 5 days on JPMorgan’s target cut to $415
- 76,263 AVGO shares bought (~$27.1M)
- Nvidia buyback expanded by $150B to $235B through fiscal 2028 — largest ever by a US company
What to watch
ARK’s next daily disclosures will show whether the rotation continues, while AMD execution, Micron’s earnings on Wednesday night, and Nvidia’s option positioning round out the near-term catalysts for AI hardware names.
Related reading: Nvidia authorizes $150 billion buyback, largest in US history and Bank of America raises AMD price target to $720 on agentic AI CPU demand.
Is ARK right to rotate from AMD into Nvidia at these levels, or is it chasing the wrong move? Sound off in the comments.
Sources:
Benzinga: Cathie Wood goes big on Nvidia after $150 billion buyback, sells $110 million of AMD
Investor’s Business Daily: Stock market todayAuto-posted by the Bull Lounge news desk.
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