On Wednesday, Cathie Wood-led Ark Invest executed significant trades involving Tempus AI Inc and Advanced Micro Devices Inc.
The Tempus AI Trade
ARK Genomic Revolution ETF and ARK Innovation ETF funds made substantial purchases of Tempus AI Inc shares. The ARKG fund acquired 21,997 shares, while ARKK added 123,797 shares. With a closing price of $53.50, the total value of these transactions amounted to approximately $7.8 million.
Tempus AI recently reported a 36.1% increase in first-quarter revenue, driven by strong demand for its oncology diagnostics and AI-driven data business. Despite widening its net loss, the company raised its full-year revenue outlook.
The Nancy Pelosi-backed company’s quarterly revenue reached $348.1 million, surpassing analyst expectations of $345.5 million. The company’s diagnostics revenue rose by 34.7%, fueled by a 28% increase in oncology volume growth. Meanwhile, its data and applications revenue climbed 40.5% to $87 million.
The AMD Trade
Ark Invest’s ARKK fund reduced its position in Advanced Micro Devices Inc by selling 18,909 shares, valued at approximately $8 million based on AMD’s closing price of $421.39.
AMD recently achieved new all-time highs, buoyed by first-quarter results and second-quarter guidance that exceeded expectations. The company is well-positioned to capitalize on increasing server CPU demand driven by Agentic AI.
Notably, Wood sold $16 million worth of AMD stock on Tuesday as the stock rallied after the earnings release.
Other Key Trades:
Sold 45,625 shares of Twist Bioscience Corp across ARKG and ARKK.
Bought 28,220 shares of Intellia Therapeutics Inc in ARKK.