Cathie Wood's ARK Invest executed a series of notable trades on September 9, 2026, trimming several of its best-known technology holdings while adding to positions in AI infrastructure and biotech. Because ARK discloses its ETF transactions each trading day, the moves offer a same-day view of how the firm, best known for backing disruptive innovation themes, is repositioning its funds.

ARK Trims AMD, Palantir, and Tempus AI

The largest sale of the session was Advanced Micro Devices. Through its flagship ARK Innovation ETF (ARKK), ARK offloaded 19,491 AMD shares for nearly $9.9 million, extending a pattern of reductions to the position over the past week and lowering the fund's exposure to the chipmaker.

ARK also sold 38,395 shares of data analytics and AI software firm Palantir Technologies for $6.5 million and cut its Tempus AI stake by 68,759 shares, a sale worth $4.4 million. Tempus AI applies AI to healthcare data and diagnostics.

Purchase of Archer Aviation

On the buy side, ARK purchased 575,700 shares of Archer Aviation for $3.4 million. Archer develops electric air taxis, including the Midnight aircraft now moving through FAA certification, and the purchase adds to the firm's exposure to the emerging urban air mobility sector.

ARK's Continued Buying of Cerebras

The most closely watched move was ARK's continued accumulation of Cerebras Systems, an AI chipmaker known for its wafer-scale processors used to train and run large AI models. On August 25, the firm bought 93,290 Cerebras shares across two ETFs, a position valued at roughly $17.2 million at the time.

The buying comes despite persistent pressure on the stock. Cerebras dropped 8% over the past month and is down 32.4% since its May 14 debut, with the selloff following its August 18 Supernova event as investors locked in profits.

Wood nonetheless appears to see long-term value in the company. Cerebras reported second-quarter revenue of $209.9 million, a 103% increase from a year earlier, while cloud revenue alone reached $127.7 million, up 287% year-over-year.

Margins remain a concern. Core gross margin came in at 40.6% in Q2, down from 46.5% in Q1. Management characterized the pressure as temporary, attributing it to higher costs from renting back systems from cloud customers, and expects margins to improve by Q4 as more owned systems come online, a timeline that provides a concrete checkpoint when the company reports fourth-quarter results. Over the long term, management is targeting a core gross margin above 60%.

Balance Sheet and Analyst Views

Cerebras ended the second quarter with more than $8.6 billion in cash, restricted cash, and marketable securities, along with an unused $850 million revolving credit facility. The company has secured over 600 megawatts of data center capacity, either already live or scheduled for delivery by the end of 2027, and its manufacturing capacity is now four times larger than it was in the first half of 2025.

Cerebras currently accounts for 2.68% of the ARK Innovation ETF and 2.73% of the ARK Next Generation Internet ETF.

On Wall Street, 8 of 11 analysts rate Cerebras a Strong Buy. The average price target of $283.91 implies potential upside of 35.1%, while the high target of $330 implies gains of 57.1% over 12 months.

Other Trades

During the same session, ARK also bought shares of gene-editing developers Beam Therapeutics and CRISPR Therapeutics along with trading platform Robinhood Markets, while selling Twist Bioscience and 10X Genomics.

Source: CoinCentral