Cathie Wood Dumps $2.4 Million Worth Of Tesla Shares, Doubles Down On These AI Stocks

Benzinga and Yahoo Finance LLC whitethorn gain committee oregon gross connected immoderate items done the links below.

On Monday, Cathie Wood-led Ark Invest executed important trades involving Tesla Inc. (NASDAQ:TSLA), Pony AI Inc. (NASDAQ:PONY), Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE:TSM), and Baidu Inc. (NASDAQ:BIDU). These trades item Ark’s strategical positioning successful the tech and AI sectors.

Ark Invest sold 5,426 shares of Tesla crossed ARK Innovation ETF (BATS:ARKK) and ARK Next Generation Internet ETF (BATS:ARKW). With Tesla’s closing terms astatine $445.23, the merchantability amounted to astir $2.4 million.

Recently, Tesla’s CEO, Elon Musk, emphasized the company’s displacement towards self-reliance successful semiconductor production, marking a important departure from reliance connected outer suppliers like TSMC. This strategical determination is aimed astatine enhancing Tesla’s AI capabilities, arsenic highlighted by analyst Ming-Chi Kuo.

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ARK Autonomous Technology & Robotics ETF (BATS:ARKQ) purchased 173,798 shares of Pony AI, valued astatine astir $2.51 cardinal based connected the closing terms of $14.45.

Pony AI has been making strides successful autonomous driving, precocious celebrating the accumulation of its 300th ARCFOX Alpha T5 robotaxi. This milestone, achieved successful collaboration with the BAIC Group, underscores Pony AI’s committedness to expanding its commercialized services.

Meanwhile, Pony.ai announced the pricing of its Hong Kong IPO astatine HK$139 per stock (US$17.89 per ADS), raising astir HK$6.7 cardinal from the merchantability of 48.25 cardinal shares. Trading began connected the Hong Kong Stock Exchange connected Nov. 6 nether the codification "2026." The institution plans to usage the proceeds to beforehand commercialization of its Level 4 autonomous driving exertion and grow R&D efforts.

ARK Space Exploration & Innovation ETF (BATS:ARKX) acquired 16,598 shares of TSMC. The purchase, valued astatine an estimated astatine $4.9 million, comes arsenic TSMC reported robust fiscal results for October, driven by beardown request for precocious chips.

The company’s gross maturation highlights its pivotal relation successful the semiconductor industry, peculiarly successful gathering the needs of tech giants like NVIDIA and Tesla.

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Ark’s ARKK and ARKQ ETFs bought a full of 94,095 shares of Baidu, amounting to astir $12.4 million. Despite challenges faced by Chinese firms successful U.S. listings, Baidu continues to beryllium a important subordinate successful the AI sector. Regulatory scrutiny connected some sides of the Pacific has increased, but Baidu’s strategical initiatives successful AI and exertion stay strong.