Key Highlights
- ARK Invest acquired approximately 300,000 Nvidia shares totaling $63 million on June 1, 2026
- The firm simultaneously divested roughly 110,000 AMD shares valued at $56 million
- Nvidia’s stock surged approximately 6% following the announcement of advanced AI PC processors at Computex
- AMD experienced a decline of up to 5.5% amid concerns about Nvidia’s market expansion
- Tigress Financial analyst Ivan Feinseth elevated his Nvidia price target to $425, suggesting 92% potential growth
On Monday, June 1, 2026, Cathie Wood’s ARK Invest executed a decisive portfolio rebalancing that sent a strong signal to the market. The investment firm simultaneously loaded up on Nvidia while exiting a substantial AMD position.
The transaction involved ARK acquiring approximately 300,000 Nvidia shares distributed across multiple exchange-traded funds. This purchase represented a total investment of about $63 million.
Concurrently, the firm liquidated roughly 110,000 AMD shares in a transaction valued at approximately $56 million.
The Diverging Paths of Two Chip Giants
Nvidia experienced a significant rally of roughly 6% during Monday’s trading session. This momentum followed the company’s presentation of innovative AI-optimized PC processors at the Computex technology conference.
Conversely, AMD faced selling pressure throughout the day. The stock plummeted as much as 5.5% during intraday trading, though it managed to recover somewhat by closing down approximately 1%.
The market’s reaction reflects a growing anxiety among AMD shareholders. Nvidia’s entrance into the PC processor space directly threatens AMD’s established position in this lucrative market segment.
Wood’s Notable Strategic Reversal
This substantial Nvidia acquisition marks a remarkable shift in Wood’s investment philosophy. Historically, she maintained a skeptical stance toward the semiconductor giant.
For years, Wood contended that Nvidia’s market valuation had grown excessive. Her thesis centered on the belief that the primary beneficiaries of the AI revolution would be companies implementing AI technologies rather than the hardware manufacturers supplying the infrastructure.
She previously stated that “AI now has to play out elsewhere for Nvidia’s valuation to make sense.” Wood also expressed concerns that proprietary AI chips developed by major technology corporations could erode Nvidia’s dominant market position.
Monday’s portfolio moves indicate a fundamental reassessment of this perspective.
ARK simultaneously purchased 62,669 shares of Cerebras Systems, representing approximately $14.85 million. This transaction continues a broader trend of Cerebras accumulation throughout the week, demonstrating ARK’s sustained conviction in AI semiconductor investments.
Additionally, ARK divested 23,584 Teradyne shares valued at roughly $8.83 million. This sale extends a recent pattern of position reduction in Teradyne holdings.
Wall Street’s Bullish Nvidia Outlook
Ivan Feinseth of Tigress Financial increased his Nvidia price target from $360 to $425 while maintaining his Strong Buy recommendation. This revised target suggests approximately 92% upside potential from current trading levels.
Feinseth characterized Nvidia as “the must-own core holding for the AI investment cycle.” He highlighted the company’s Blackwell GPU architecture, advanced networking technologies, and comprehensive CUDA software ecosystem as critical competitive differentiators.
Nvidia maintains a Strong Buy consensus among 40 Wall Street analysts. The breakdown includes 38 Buy recommendations, one Hold rating, and one Sell rating. The consensus 12-month price target stands at $309.86, representing approximately 38% upside from recent price levels.
Meanwhile, AMD retains a Strong Buy consensus from 35 analysts, comprising 27 Buy ratings and 8 Hold ratings. However, its average price target of $477.33 sits roughly 6% below the stock’s recent trading range.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
