Ark Invest buys shares in Amazon amid AI investment surge
- Ark Invest acquired 82,735 shares in Amazon.com Inc.
- The investment aligns with Amazon's $8 billion AI initiative with Anthropic.
- These trades reflect Ark Invest's strategy to capitalize on tech sector developments.
In recent transactions, Ark Invest, led by Cathie Wood, has made significant investments in major technology firms. The firm acquired 82,735 shares in Amazon.com Inc. through its ARK Innovation ETF and ARK Space Exploration & Innovation ETF. This strategic move follows Amazon's announcement of a substantial $8 billion investment in Anthropic, an artificial intelligence research company, where Amazon Web Services will serve as a primary partner. Additionally, Ark Invest purchased 127,363 shares of Advanced Micro Devices Inc., valued at approximately $17.35 million, indicating belief in the company's long-term potential despite recent stock challenges. On the other hand, Ark trimmed its portfolio by selling 100,804 shares of Palantir Technologies Inc. and also disposed of shares in Block Inc., reflecting a shift in strategy amid the evolving tech landscape. Overall, these trades highlight Ark Invest's commitment to leveraging opportunities in the tech sector while adapting its holdings based on market conditions and emerging trends.