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

On Monday, Cathie Wood-led Ark Invest executed significant trades involving Tesla Inc., Pony AI Inc.,  Taiwan Semiconductor Manufacturing, and  Baidu. These trades highlight Ark’s strategic positioning in the tech and AI sectors.

The Tesla Trade

Ark Invest sold 5,426 shares of Tesla across ARK Innovation ETF and ARK Next Generation Internet ETF. With Tesla’s closing price at $445.23, the sale amounted to approximately $2.4 million.

Recently, Tesla’s CEO, Elon Musk, emphasized the company’s shift towards self-reliance in semiconductor production, marking a significant departure from reliance on external suppliers like TSMC. This strategic move is aimed at enhancing Tesla’s AI capabilities, as highlighted by analyst Ming-Chi Kuo.

The Pony.ai Trade

ARK Autonomous Technology & Robotics ETF purchased 173,798 shares of Pony AI, valued at approximately $2.51 million based on the closing price of $14.45.

Pony AI has been making strides in autonomous driving, recently celebrating the production of its 300th ARCFOX Alpha T5 robotaxi. This milestone, achieved in collaboration with the BAIC Group, underscores Pony AI’s commitment to expanding its commercial services.

Meanwhile, Pony.ai announced the pricing of its Hong Kong IPO at HK$139 per share (US$17.89 per ADS), raising about HK$6.7 billion from the sale of 48.25 million shares. Trading began on the Hong Kong Stock Exchange on Nov. 6 under the code "2026." The company plans to use the proceeds to advance commercialization of its Level 4 autonomous driving technology and expand R&D efforts.

The TSMC Trade

ARK Space Exploration & Innovation ETF acquired 16,598 shares of  Taiwan Semiconductor Manufacturing. The purchase, valued at an estimated at $4.9 million, comes as TSMC reported robust financial results for October, driven by strong demand for advanced chips.

The company’s revenue growth highlights its pivotal role in the semiconductor industry, particularly in meeting the needs of tech giants like NVIDIA and Tesla.

The Baidu Trade

Ark’s ARKK and ARKQ ETFs bought a total of 94,095 shares of Baidu, amounting to approximately $12.4 million. Despite challenges faced by Chinese firms in U.S. listings, Baidu continues to be a significant player in the AI sector. Regulatory scrutiny on both sides of the Pacific has increased, but Baidu’s strategic initiatives in AI and technology remain strong.

Other Key Trades

• Ark Invest’s ARKF ETF sold 19,422 shares of SoFi Technologies Inc. (SOFI).

• ARKG ETF bought 8,050 shares of CRISPR Therapeutics AG (CRSP) and ARKK purchased 52,489 shares.

• ARKG ETF acquired 10,488 shares of Beam Therapeutics Inc. (BEAM) while ARKK purchased 68,382 shares.

• ARKK ETF sold 16,333 shares of GitLab Inc. (GTLB) and ARKW sold 2,351 shares.

• ARKX ETF sold 12,300 shares of Kratos Defense and Security Solutions Inc. (KTOS).