TLDR
- ARK bought 22,734 Meta Platforms shares worth about $17.33 million across two ETFs.
- ARK bought 67,362 Cerebras Systems shares worth nearly $10 million ahead of a share unlock.
- ARK sold 901,647 Personalize shares for $14.29 million through its ARKG ETF.
- ARK also sold Toast and Everpure shares worth $12.54 million and $10.13 million.
- Meta shares rose 2.6% and Cerebras gained 1.7% on the day of the trades.
Cathie Wood’s ARK Invest bought about $17.33 million worth of Meta Platforms shares on Tuesday, October 13. The firm purchased 22,734 shares across its ARKW and ARKF ETFs. The price used was Meta’s closing price of $762.50.
Meta shares gained 2.6% during the session. The buy followed a smaller purchase earlier in the week.
ARK also bought 67,362 Cerebras Systems shares, worth nearly $10 million. The price used was a close of $149.08. Cerebras shares rose 1.7% that day.
The Cerebras buy was made through the ARKW ETF. ARK has shown steady interest in the company over the past few days.
Why ARK May Be Buying
Meta launched two new AI models, Muse Wonder and Muse Wonder Full, on Monday. The company says they are built to handle personal and professional tasks using AI agents.
CEO Mark Zuckerberg said on a recent podcast that he was ready to invest between $100 billion and $200 billion in AI. He said this before knowing whether the models would succeed.
Meta is building AI computing sites, including its Prometheus cluster in Ohio and a planned Hyperion facility in Louisiana. The company plans to pay for them through its existing business and borrowing.
ARK’s Cerebras purchase came ahead of the October 14 release of up to 19.4 million shares from IPO lock-up limits. More shares could be sold once eligible holders are free to trade.
Cerebras also has a supply deal with OpenAI to provide 750 megawatts of computing capacity. The deal is valued at more than $20 billion. OpenAI reportedly reached an annualized revenue run rate of $50 billion in September.
ARK’s Sales and Smaller Trades
ARK’s largest sale was 901,647 shares of Personalize through its ARKG ETF. The sale totaled $14,291,104. ARK has been selling the stock for the past week.
The firm sold 406,020 Toast shares for $12,541,957 through ARKW and ARKF. It also sold 64,530 Everpure shares for $10,129,274.
ARK sold 43,521 CareDx shares for $2,847,579. It bought 84,652 Freenome shares for $1,070,001 and 49,090 Beam Therapeutics shares for $1,199,268.
Smaller buys included Kymera Therapeutics at $391,408 and Kodiak AI at $16,705. ARK also sold 4,520 Meta shares on October 12 and trimmed its Meta position by $14.3 million on October 8.
Analysts rate both Meta and Cerebras as a Strong Buy. The implied upside is 93.6% for Cerebras and 7.1% for Meta.
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