Cathie Wood’s ARK Invest Exits AMD (AMD) and Palantir (PLTR), Pours $17M Into Cerebras and Archer

Key Highlights

• ARK Invest divested 19,491 Advanced Micro Devices shares valued at approximately $9.9 million via its flagship ARKK ETF
• The investment firm acquired 575,700 Archer Aviation shares for $3.4 million, demonstrating confidence in electric vertical takeoff aircraft
• ARK purchased 93,290 Cerebras Systems shares totaling $17.2 million even as the stock declined 32.4% from its May peak
• The AI chipmaker delivered impressive Q2 results with 103% revenue expansion reaching $209.9 million, while cloud segment surged 287%
• Palantir Technologies shares valued at $6.5 million were offloaded while ARK increased holdings in Beam Therapeutics and CRISPR Therapeutics

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ARK Invest, led by Cathie Wood, executed several notable portfolio adjustments on September 9, 2026, moving away from established technology stocks while amplifying exposure to artificial intelligence infrastructure and biotechnology companies.

The most substantial divestment involved Advanced Micro Devices. The firm liquidated 19,491 shares via its ARKK ETF, representing a transaction value approaching $9.9 million. This move extends ARK’s recent trend of decreasing its AMD stake throughout the previous week.

Advanced Micro Devices, Inc., AMD

Additionally, ARK divested 38,395 Palantir Technologies shares generating $6.5 million in proceeds and reduced its Tempus AI exposure through the sale of 68,759 shares valued at $4.4 million.

Regarding acquisitions, ARK secured 575,700 Archer Aviation shares in a $3.4 million transaction. Archer specializes in electric vertical takeoff and landing vehicles, and this investment strengthens ARK’s commitment to the emerging urban air mobility sector.

Cerebras Becomes Major Focus for ARK

The most significant acquisition involves ARK’s persistent accumulation of Cerebras Systems shares. On August 25, the firm acquired 93,290 shares distributed across two exchange-traded funds, representing approximately $17.2 million in value at execution.

Cerebras stock has experienced sustained downward pressure. The shares declined 8% over the preceding month and have retreated 32.4% since their May 14 market introduction. The decline intensified following the company’s August 18 Supernova presentation, when shareholders realized gains.

Nevertheless, Wood apparently identifies substantial long-term opportunity. Cerebras delivered second quarter revenue of $209.9 million, representing a remarkable 103% increase compared to the prior year period. Cloud segment revenue specifically reached $127.7 million, climbing 287% year-over-year.

Profitability metrics have raised questions among observers. Core gross margin registered 40.6% in Q2, declining from 46.5% recorded in Q1. Executive leadership attributes this compression to temporary factors, specifically rental costs for systems leased back from cloud partners at premium rates.

Company guidance anticipates margin recovery by the fourth quarter as additional company-owned infrastructure becomes operational. Over the longer horizon, management projects achieving core gross margins exceeding 60%.

Financial Position and Street Sentiment on Cerebras

Cerebras concluded the second quarter holding more than $8.6 billion across cash, restricted cash, and marketable securities. The company maintains access to an untapped $850 million revolving credit line.

The organization has committed to over 600 megawatts of data center infrastructure, either currently operational or scheduled for activation by the close of 2027. Production capacity has expanded fourfold relative to the first half of 2025.

Within ARK’s portfolio construction, Cerebras represents 2.68% of the ARK Innovation ETF holdings and 2.73% of the ARK Next Generation Internet ETF composition.

Among Wall Street research analysts, 8 out of 11 assign Strong Buy recommendations to Cerebras. The consensus price objective of $283.91 indicates potential appreciation of 35.1%, whereas the most optimistic forecast of $330 suggests possible gains reaching 57.1% within a twelve-month timeframe.

During the identical trading session, ARK also accumulated shares of Beam Therapeutics, CRISPR Therapeutics, and Robinhood Markets, while simultaneously disposing of positions in Twist Bioscience and 10X Genomics.