Cathie Wood’s ARK Buys More Alphabet, Meta, and Coinbase. Bu

Cathie Woods ARK Buys More Alphabet, Meta, and Coinbase. But Ditches These Stocks.

Its the clear Big Tech winner inthe race for AI dominance, with a stock that has soared 70% the past 12 months. But shares of Google parentAlphabethave further to gothats the read across from latest investments by Cathie Woods ARK Invest.

The high-profileAIinvestor, who has beendismissiveofbubbletalk,has been busytopping uptech holdings and buying the crypto dip, throughvarious funds.

Theinvestment managers daily trading file, posted on social media site X,revealed a tranche of pre-Thankgivingtrades.On Tuesdayfour different ARK fundspurchaseda total of174,293shares inAlphabet

GOOGL

+0.07%

,which closed at $320.50.If the transaction took place on that day the value would be worth$55.8 million.

Three fundspurchaseda total of 33,837 shares in Facebook ownerMeta

META

+2.26%

. The stock closed at $633.76 on Tuesday.The value of that purchase would have been around $21.4 million. ARK also bought $29.4 million ofCoreWeave

CRWV

-1.57%

Stock.

At aconference in Saudi Arabia last monthWood said:Idontbelieve AI is in a bubble.What I do think is, on the enterprise side, it is going to take a while for large corporations to prepare themselves to transform.

Alphabets stock neared a $4 trillion valuation for the first time following a report Google is in talks to sell AI chips to Meta. This was bad news for chip makersNvidiaandAdvanced Micro Devicestheir stocks both fell.

ARKs Tuesday trading file showed it had sold stock in AMDworth $38.6 million, and$59 million ofPalantir

PLTR

+1.62%

stock.

It continued to buy the crypto dipsnapping up $3.8 million ofCoinbase, and $7 million ofCircle.