Cathie Wood reallocates ARK Invest capital toward AI and space sectors

Cathie Wood's ARK Invest has executed a significant portfolio rotation, reallocating capital toward sectors linked to artificial intelligence, specifically semiconductors and space technology.

Recent acquisitions include approximately $14.2 million in TSMC (TSM) and significant stakes in SpaceX, Coinbase, and Circle. ARK Invest's investment in SpaceX followed the company's Q2 earnings report, which exceeded Wall Street estimates with $7.81 billion in revenue. Combined investments in SpaceX, Coinbase, and Circle totaled roughly $45 million.

To fund these purchases, Wood reduced positions in several major technology companies, including Amazon, Alphabet, and Shopify. Notably, the partial sale of Amazon occurred shortly before the company released quarterly results that drove its shares to record highs.