ARK Invest kept cutting AI chip exposure on March 28. Trading records released after Friday's close show Cathie Wood's firm sold 58,119 shares of Nvidia worth about $10 million through ARKK, ARKW, and ARKF. It also sold 19,126 shares of AMD, valued at roughly $3.9 million. The firm's only purchase of the day was 48,659 shares of biotech company Arcturus Therapeutics, a position worth about $344,000.
Two-day sales top $100 million
Friday's trades were modest on their own, but the picture changes when combined with activity from March 27. Over the two sessions, ARK reduced its Nvidia position by more than 212,000 shares, equal to about $36.5 million. AMD sales over the same period exceeded 57,000 shares, worth around $11.7 million. Including technology stocks and crypto ETFs, ARK's total sales over the two days climbed past $100 million.
That makes the recent move more than a small portfolio adjustment. The selling was concentrated in large technology holdings, with AI-related names staying at the center of the reduction.
The only buy was a biotech stock
The standout detail from Friday's record was not just what ARK sold, but what it bought. Arcturus Therapeutics, the only name added that day, is an RNA therapy company. It sits in a very different segment from AI chips, and the size of the purchase was far smaller than the value of the stock sales executed the same day.
ARK's portfolio activity this year has already shown heavier exposure to gene editing and genomics. Beam Therapeutics has been one of the firm's recent focus positions. Wood has also said publicly that she expects annual productivity growth to accelerate to 4% to 6% by 2026, with the main driver coming from biotech innovation rather than computing power.
Portfolio rotation is becoming clearer
Looking at the two-day sequence together, ARK's trading points to a visible shift in allocation. Nvidia and AMD were both cut again, while fresh capital went into biotech. Based on the disclosed records, Wood is moving part of the portfolio away from AI chip and broader tech exposure and into healthcare innovation.