Ark Invest Continues Buying Shares Of Nvidia And Apple Supplier TSMC — Also Purchases AMD Stock – Markets Insider
On Tuesday, Cathie Wood-led Ark Invest made some significant trades, with the most prominent ones being in Taiwan Semiconductor Manufacturing Co Ltd (TSM) and Advanced Micro Devices Inc (AMD).
The TSM Trade: The ARK Next Generation Internet ETF (NYSE:ARKW) fund acquired 3,316 shares of Taiwan Semiconductor Manufacturing Company. This trade was made amid an ongoing AI frenzy that has swept Wall Street. The transaction was valued at $595,852 on the day TSM shares ended the regular session 1.4% higher at $179.69.
TSMC plans to increase the price of its 3nm wafers by more than 5% and the price for advanced packaging next year is 10% to 20% higher as well. Major clients, including Apple and Nvidia, have reserved all production capacity at TSMC until 2026. Notably, Ark purchased $5.3 million worth of TSMC shares a day earlier.
The AMD Trade: Ark Invest also made a significant move in Advanced Micro Devices Inc (AMD), purchasing 3,710 shares through ARKW. The transaction was worth $573,677. AMD shares closed 2.4% lower at $154.63 in Tuesday’s regular session.
This trade came as AMD confirmed that it is aware of a cybercriminal organization claiming to be in possession of stolen AMD data. In a statement to Benzinga, AMD stated, “We are working closely with law enforcement officials and a third-party hosting partner to investigate the claim and the significance of the data.”
See Also: Nasdaq Futures Rise, While S&P 500 Futures Slide: What’s Going On
Other Key Trades:
Read Next: As Apple, Nvidia Trade Near All-Time Highs, Jim Cramer Tells Investors To Cash In On AI Stocks: ‘Let’s Not Be Too Greedy’
This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal
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