Cathie Wood is adding more firepower to her biggest tech convictions. New disclosures from ARK Invest show the fund manager buying heavily into Alphabet (GOOGL), extending a position that has already paid off with the stock up about 70% over the past year.
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Across four ARK funds, Wood picked up 174,293 shares of Alphabet in one session, a purchase valued near $55.8 million at recent prices. The move comes as Alphabet pushes closer to a $4 trillion valuation and continues to flex its AI muscle across cloud, search, and custom chip development.
ARK Expands Exposure to Meta and Crypto
Alphabet was not the only Big Tech winner in the buying spree. ARK also added 33,837 shares of Meta Platforms (META), a position valued around $21.4 million, reinforcing Wood’s view that social media platforms remain powerful AI data engines.
On the crypto side, ARK scooped up $3.8 million in Coinbase (COIN) and another $7 million of Circle (CRCL). The buying suggests Wood is positioning for a rebound in crypto trading activity after the recent pullback in digital assets.
Cathie Wood Cuts AMD and Palantir
Just as aggressively as ARK bought its winners, it slashed positions elsewhere. Trading files show ARK sold roughly $38.6 million of Advanced Micro Devices (AMD) and $59 million of Palantir Technologies (PLTR).
Those exits came just as reports surfaced that Google could sell its AI chips to Meta, a development that sent shockwaves through the chip sector and weighed on AMD shares. Palantir’s sale appears to reflect profit-taking after a massive multi-year run tied to government and commercial AI contracts.
ARK Stays Firm on the AI Thesis
Wood has repeatedly pushed back on claims that artificial intelligence is in a bubble. At a recent conference, she said, “I don’t believe AI is in a bubble. What I do think is, on the enterprise side, it is going to take a while for large corporations to prepare themselves to transform.”
The latest trades reinforce this philosophy. ARK is concentrating capital into companies with massive distribution, deep data advantage, and direct exposure to AI infrastructure while trimming names where near-term narratives may have gotten ahead of business execution.
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