Cathie Wood invests a combined $28.7 million in TSMC, SpaceX after trimming investments in Amazon, Alphabet and Shopify Cathie Wood is making another big bet on the future of artificial intelligence and space technology.
Her investment firm, ARK Invest, added roughly $28.7 million of Taiwan Semiconductor Manufacturing (TSMC) and SpaceX [NASDAQ:SPCX] shares — trimming investments in Amazon [NASDAQ:AMZN], Alphabet [NASDAQ:GOOG] and Shopify [NASDAQ:SHOP] to help fund part of the purchases
The move offers fresh insight into where the high-profile investor sees the strongest long-term growth opportunities. Must Read Wood’s investments ARK purchased 37,916 TSMC shares worth about $14.2 million and 128,932 SpaceX shares valued at roughly $14.5 million. The SpaceX shares were bought after the stock’s post-IPO decline.
The purchase was funded in part by the selling of roughly $1.1 million each of Amazon and Alphabet and about $5 million of Shopify. The selling of Amazon came just hours before it released its July 30 second-quarter earnings report, as investors eyed the company’s AI spending and cash flow. Amazon beat Wall Street’s expectations, pushing shares to an all-time high on Monday.