ARK Invest sells $2M in AMD, buys $8M in Cerebras shares

ARK Invest is making its semiconductor preferences very clear. The firm’s ARKW fund dumped 3,679 shares of Advanced Micro Devices, worth roughly $1.8 million, while its ARKK and ARKW funds scooped up 35,089 shares of Cerebras Systems at a combined value of approximately $7.7 million. The trade is less a one-off rebalancing and more the latest chapter in a pattern that has been playing out since Cerebras hit public markets in May 2026. ARK has been steadily building a massive position in the AI chip company while trimming its exposure to AMD. The Cerebras bet keeps getting bigger Cerebras Systems went public with an IPO price of $185 per share. The stock promptly opened at around $350, nearly doubling on its first day of trading. Since the IPO, ARK has executed numerous purchases of Cerebras shares totaling hundreds of thousands of shares across its funds. Individual buy orders during the May through June 2026 stretch ranged from roughly $11 million to $28 million on various dates. The latest $7.7 million purchase, at a closing price of about $220, represents a relatively modest addition by ARK’s own recent standards. Cerebras designs large-scale AI accelerators, chips purpose-built...