Cathie Wood Doubles Down on Nvidia: Dumps Circle After IPO Surge

June 17 – Cathie Wood’s ARK Invest made high-conviction moves on Monday, scooping up shares of tech titans while cutting ties with a buzzy new listing, signaling a sharpened focus on long-term innovation bets.

The ARK Innovation ETF (ARKK) snapped up 128,163 shares of Nvidia (NASDAQ:NVDA), worth roughly $18.5 million. The buy comes as investors cheer Nvidia’s AI roadmap and CEO Jensen Huang’s upbeat commentary on quantum computing. Huang also confirmed the chipmaker will no longer factor China into future forecasts, reinforcing its pivot to less geopolitically sensitive markets.

ARK also increased its exposure to DoorDash (NASDAQ:DASH) and nuclear tech player BWX Technologies (NYSE:BWXT), building positions in companies riding sector-specific tailwinds.

In a surprising reversal, Wood trimmed a large chunk of her Circle Internet Group (NYSE:CRCL) stake, a stock she aggressively bought during its IPO. Despite Circle rallying over 13% on the day, ARK appears to be locking in early gains and reallocating capital to higher-conviction names.

The fresh round of Nvidia buying underscores Wood’s continued confidence in next-gen computing, even as chip stocks wrestle with tightened U.S. export curbs. The shake-up signals ARK’s strategy is doubling down on future-focused growth, while shedding names that may no longer fit the thesis.

This article first appeared on GuruFocus.