Cathie Wood Just Spent $8.4 Million On This Top Chip Stock (And It's Not NVIDIA)

On Tuesday, Cathie Wood-led Ark Invest made notable trades, prominently acquiring shares of Taiwan Semiconductor Manufacturing Co. Ltd TSM. This strategic move involved significant purchases across multiple Ark ETFs, reflecting a strong belief in TSMC’s future potential.

The TSM Trade: Ark Invest’s acquisition of TSMC shares on Tuesday was substantial, with the ARK Innovation ETF ARKK purchasing 27,099 shares and the ARK Next Generation Internet ETF ARKW acquiring 16,172 shares. On Tuesday, Taiwan Semiconductor stock was largely unmoved at $193.45. The Ark trades were valued at $8.4 million. Earlier, on Monday, Ark had picked up $3.83 million worth of TSMC stock.

TSMC’s ongoing collaborations with Qualcomm and other original design manufacturers in Taiwan further highlight its pivotal role in advancing next-generation mobile and AI chips. Qualcomm’s chief, Cristiano Amon, emphasized the importance of TSMC in their supply chain ahead of the Computex trade show. This partnership is expected to solidify TSMC’s position as a leader in the semiconductor industry.

Other Key Trades:

• Sold 1,300 shares of UiPath Inc. (PATH) from the ARK Fintech Innovation ETF (ARKF).
• Bought 84,478 shares of Nextdoor Holdings Inc (KIND) through the ARK Next Generation Internet ETF (ARKW).
• Acquired 839 shares of Blade Air Mobility Inc (BLDE) via the ARK Space Exploration & Innovation ETF (ARKX).

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TSMC ranks 82nd in Momentum and also on Growth, according to Benzinga Edge Stock Rankings. For a fuller analysis of the stock, click here.

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This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal