Cathie Wood Pours $8.5M Into Cerebras Amid Buzz Around AI Chip Upstart, Won't Stop Dumping AMD

On Tuesday, Cathie Wood-led Ark Invest made significant trades involving Advanced Micro Devices Inc. (NASDAQ:AMD) and Cerebras Systems Inc. (NASDAQ:CBRS). The AMD Trade Ark Invest, through its ARK Next Generation Internet ETF (BATS:ARKW), sold 5,301 shares of AMD. The transaction is valued at approximately $2.7 million. This move follows a series of sales by Ark, the latest of which was on Friday, when Wood sold 1,859 shares. Throughout May, Ark has jettisoned millions of dollars' worth of the chipmaker's stock. The Lisa Su-led company is ramping up production of its Vera Rubin platform, indicating a busy period for Taiwan’s semiconductor supply chain. Despite this, U.S.-China policy continues to impact AMD, with China accounting for a significant portion of its net sales. data-variant="card" data-news-mode="manual" ...Full story available on Benzinga.com