Cathie Wood’s ARK Invest Trims AMD While Increasing Stake in AI Chip Maker Cerebras

TLDR

• ARK Invest bought 42,126 shares of Cerebras Systems worth around $11.8 million through its ARKK and ARKW ETFs on May 22
• ARK also purchased 105,810 shares of Twist Bioscience for $6.2 million and 25,029 shares of Bullish for $900,000
• ARK sold 1,859 shares of Advanced Micro Devices totaling $835,787, continuing a week-long trend of reducing its position
• Cerebras was fast-tracked for S&P index inclusion, effective May 25, bypassing the usual 12-month waiting period
• Cerebras generates 86% of its revenue from just two Abu Dhabi-linked clients, raising concentration risk concerns

ARK Invest, run by Cathie Wood, made a series of trades on Friday May 22, 2026. The biggest move was buying into Cerebras Systems, an AI chip company that recently went public.

ARK purchased 42,126 shares of Cerebras through its ARKK and ARKW ETFs. The total value came to roughly $11.8 million. This follows purchases ARK made in Cerebras in the weeks before.

Cerebras Systems Inc., CBRS

Cerebras went public on May 14. Shares were priced at $185, opened at $350, and briefly hit $385 on its first day of trading. The stock settled near $280 by the end of the week.

At its peak, the company’s valuation was close to $100 billion. That valuation came despite the company reporting $510 million in total revenue and $87.9 million in net income for full-year 2025.

The IPO drew demand 20 times greater than the shares available. That level of interest points to investor confidence in the company’s technology rather than its current financials.

What Makes Cerebras Different

Cerebras builds a chip that keeps an entire silicon wafer intact instead of cutting it into smaller pieces. The result is a single processor roughly the size of a dinner plate. The company says this removes the latency problems that come with linking multiple chips together.

This design has drawn attention from investors betting on the future of AI computing infrastructure.

S&P Fast-Track and What It Means

On May 19, S&P Dow Jones confirmed Cerebras would be included in its index on an expedited basis, effective May 25. The company bypassed the standard 12-month waiting period because it met certain market cap thresholds.

Index inclusion means funds that track the S&P must automatically buy shares. That created extra buying pressure after the announcement.

GuruFocus gives Cerebras a GF Score of 42 out of 100. Its financial strength is rated 3 out of 10, reflecting that the business is still in an early stage.

One concern analysts have raised is customer concentration. Two Abu Dhabi-connected clients account for 86% of the company’s total revenue. If either relationship were disrupted, it would be difficult to replace that income quickly.

No executive share transactions have been recorded in the past three months, according to available filings.

ARK’s Other Moves

ARK also bought 105,810 shares of Twist Bioscience for $6.2 million, showing continued interest in biotech. It added 25,029 shares of Bullish across three ETFs for around $900,000.

On the sell side, ARK offloaded 1,859 shares of Advanced Micro Devices for $835,787 through its ARKW ETF. This continues a pattern of trimming its AMD position over the past week.

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