Cathie Wood's Chip Pair Trade: Ark Offloads More Nvidia, Adds $10M Of This Giant After 2 Years

Cathie Wood's Ark Invest made a semiconductor pair trade on Monday, daily trade information from the firm showed.

Betting On Biggest Foundry: Ark through its Ark Autonomous Technology & Robotics ETF ARKQ bought 98,170 shares of Taiwan Semiconductor Manufacturing Company Limited TSM valued at $10.51 million.

Taiwan-based TSMC is the world's biggest chipmaker and a dedicated foundry supplying advanced chips to the world's biggest semiconductor and consumer electronics companies.

The company has exposure to autonomous driving technology through its automotive customers including Tesla, Inc. TSLA. The Taiwanese company also has an automotive electronics platform providing a comprehensive spectrum of technologies and services to meet the unique semiconductor challenges of the automotive industry.

TSMC now accounted for 1% of ARKQ's portfolio. Ark hasn't traded in TSMC since late April 2021. Incidentally, through 2021, the firm continued to sell the stock amid the Chinese regulatory clampdown on big techs from Greater China.

See Also: Best Artificial Intelligence Stocks

Nvidia Selling Continues: Ark, through its ARKQ and Ark Next Generation Internet ETF ARKW, sold 20,111 shares of Nvidia. The sale would have fetched the company proceeds of about $7.94 million at Monday's closing price of $394.82.

Wood's ETFs have almost liquidated their entire Nvidia holdings amid the year's AI-triggered rally. The fund manager suggested in her recent media appearances that the company has run up sharply since her firm first took a position in 2017. She has been touting other AI plays that could be in the early innings of a rally.

TSM's NYSE-listed shares ended Monday's session at $107.06, up 4.14%, according to Benzinga Pro data. Nvidia rallied 1.84% to $394.82.

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