<\/p>\n
Cathie Wood, chief of Ark Investment Management, often shifts money between her favorite tech stocks.<\/p>\n
This week she sold $28.7 million of Alphabet while pouring money into Meta Platforms, as the Facebook parent pushes deeper into AI.<\/p>\n
Last year, her flagship Ark Innovation ETF (ARKK) gained 35.49%, far outpacing the S&P 500’s return of 17.88% in the same period. So far this year, Ark Innovation ETF is up 8.66% as of writing, while the S&P 500 surged 11.85%, Yahoo Finance data shows.<\/p>\n
Wood gained a reputation after Ark Innovation ETF delivered a rosy 153% return in 2020. But her style also brings painful losses in bearish markets, as seen in 2022, when Ark Innovation ETF tumbled more than 60%.<\/p>\n
Those swings have weighed on Wood’s long-term gains. As of Sept. 11, Ark Innovation ETF has delivered a five-year annualized return of -6.89%, while the S&P 500 has an annualized return of 11.42% over the same period, according to data from Morningstar.<\/p>\n
Cathie Wood says AI could help support high corporate profits<\/p>\n
Wood focuses on high-tech companies across artificial intelligence, blockchain, biomedical technology, and robotics. She believes these businesses have strong growth potential, but their volatility often causes fluctuations in the Ark’s funds.<\/p>\n
Over the decade ended 2025, Ark Innovation ETF wiped out nearly $5 billion in investor wealth, according to a report by Morningstar’s analyst Amy Arnott. That made it the fourth-biggest wealth destroyer among mutual funds and ETFs in the ranking. <\/p>\n
Wood remains optimistic about AI, which she sees as a major driver of productivity, economic growth, and corporate profits in the years ahead.<\/p>\n
“Two hundred railroads went bankrupt in the 1800s. I don’t think the AI buildout will end the same way. The railroads were built on a hope and a prayer while AI revenues seem to be screaming,” Wood said in a recent post on X.<\/p>\n
Related: Cathie Wood buys $6.5 million of surging semiconductor stock<\/p>\n
In another August post on X, Wood said U.S. corporate profits remain unusually strong, with domestic profits before tax at 13.2% of GDP, a level she said is near multi-decade highs. <\/p>\n
Some of that strength came from the massive monetary and fiscal stimulus during the pandemic, but Wood believes another factor is helping sustain margins today: companies are leaning into AI and productivity gains to protect them.<\/p>\n
“I think we’re still early in seeing how far that can go,” she said, adding that companies that use AI effectively will “separate themselves from the ones that don’t.”<\/p>\n
But not all investors agree with Wood’s optimism. Over the past 12 months through Sept. 10, Ark Innovation ETF saw roughly $2.3 billion in net outflows, according to data from ETF research firm VettaFi. <\/p>\n
Over the past 12 months through Sept. 10, the Ark Innovation ETF saw roughly $2.3 billion in net outflows.<\/p>\n
Getty Images<\/p>\n
Cathie Wood sells $28.7 million of Alphabet stock<\/p>\n
On Sept. 9 and 11, Wood’s Ark funds sold a total of 86,531 shares of Google parent Alphabet (GOOGL), according to Ark’s daily trading information sent to TheStreet. These stocks were worth about $28.7 million.<\/p>\n
Meanwhile, Wood on Sept. 9 bought 43,091 Meta Platforms (META) shares worth about $27.9 million as the stock hit a two-month high on excitement around its latest AI moves, including the launch of its Muse AI assistant earlier this week.<\/p>\n
Mizuho says Meta’s new Muse AI agent could pressure Google and give Meta shares another boost, according to The Fly. <\/p>\n
Related: Morgan Stanley renews Apple stock forecast after iPhone Duo launch<\/p>\n
After testing Muse, the firm was impressed by its polish, range of features, news-feed integration and free access. Mizuho says the product could be the start of a major new cycle for Meta that investors haven’t fully priced in yet.<\/p>\n
Google is still one of the strongest players in the megacap AI race. Beyond Gemini, Google has its own AI chips and a large cloud business, while Search, YouTube and Android give it plenty of places to put new AI products in front of users.<\/p>\n
Alphabet’s July earnings showed strength in Google Cloud, helped by growing demand for AI products and infrastructure. Google Cloud revenue jumped 82% to $24.8 billion in the second quarter.<\/p>\n
Overall revenue reached $119.8 billion for the second quarter, topping the $116.93 billion expected by analysts, while adjusted earnings of $2.85 per share fell slightly short of the $2.89 estimate, CNBC reported. Google has also been pushing AI deeper into Search through AI Overviews and AI Mode.<\/p>\n
But competing at the top of the AI race comes with a big price tag. Google has been pouring money into servers, data centers, and networking equipment to support its AI models and cloud customers.<\/p>\n
Google has increased its capex for this year to between $195 billion and $205 billion to meet the growing demand for AI computing, up from the $180 billion to $190 billion forecast provided last quarter. <\/p>\n
“We’re still in a supply-constrained environment,” said Google’s finance chief Anat Ashkenazi during the July earnings call. “We are seeing very strong demand both from external cloud customers as well as across the business.”<\/p>\n
This week, the company announced another $15.1 billion investment in AI infrastructure in Finland, including three new data centers that will support Gemini, Search, Maps and YouTube, Reuters reported.<\/p>\n
Alphabet stock is up about 7% year-to-date, underperforming the S&P 500 index.<\/p>\n
Alphabet is not a top-10 holding in the Ark Innovation ETF. Before the latest sales, Wood sold roughly 10,000 Alphabet shares in late July after buying more than 100,000 shares on June 3.<\/p>\n
Top 10 Holdings in the Ark Innovation ETF by weight as of Sept. 11, 2026:<\/p>\n
Tesla (TSLA) – 9.75%<\/p>\n
SpaceX (SPCX) – 6.52%<\/p>\n
Circle Internet Group (CRCL) – 5.56%<\/p>\n
Tempus AI (TEM) – 4.83%<\/p>\n
CRISPR Therapeutics (CRSP) – 4.52%<\/p>\n
Coinbase (COIN) – 4.47%<\/p>\n
Robinhood (HOOD) – 4.18%<\/p>\n
Twist Bioscience (TWST) – 3.29%<\/p>\n
10x Genomics (TXG) – 3.21%<\/p>\n
Shopify (SHOP) – 3.07%<\/p>\n
Other than selling Alphabet shares, Wood’s latest trades included buying Meta Platforms (META), Beam Therapeutics (BEAM), Intellia Therapeutics (NTLA), and CRISPR Therapeutics (CRSP).<\/p>\n
She also sold shares of Brera Holdings (SLMT), GeneDx Holdings (WGS), Tempus AI (TEM), 10x Genomics (TXG), Bullish (BLSH), and Twist Bioscience (TWST).<\/p>\n
Related: 74-year-old convenience store chain closing all locations<\/p>\n
#Cathie #Wood #sells #million #megacap #tech #stock<\/p>\n","protected":false},"excerpt":{"rendered":"
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