Cathie Wood Dumps Tesla Again, Pours Millions Into This Tech Gaint

This article first appeared on GuruFocus.

Cathie Wood’s ARK Invest funds shifted positions Monday, increasing stakes in Chinese tech giant Baidu (BIDU) while trimming exposure to Tesla (NASDAQ:TSLA).

The ARK Innovation ETF (ARKK) purchased 51,263 Baidu shares for roughly $6.7 million.

Citi analyst Alicia Yap recently raised her price target on BIDU to $181, suggesting nearly 40% upside potential. Investors see continued growth in Chinese AI and cloud services driving interest.

Wood also boosted autonomous vehicle exposure, acquiring 17,326 shares of WeRide (NASDAQ:WRD) via the ARK Autonomous Technology & Robotics ETF (ARKQ) at about $1.6 million. The stock dipped 2.8% recently after J.P. Morgan lowered its price target, though it maintains a Buy rating, citing long-term upside as robotaxi regulations evolve.

Tesla (NASDAQ:TSLA) saw reductions, with ARKK selling 2,100 shares for $923,000 amid analyst concerns over fair valuation. Other portfolio adjustments included GeneDX Holdings (WGS), Tempus AI (TEM), and Arcturus Therapeutics (ARCT).