Cathie Wood’s ARK Invest trims AMD stake while increasing stake in AI chipmaker Cerebras

TLDR

• ARK Invest purchased 42,126 shares of Cerebras Systems worth approximately $11.8 million through the ARKK and ARKW ETFs on May 22
• ARK also purchased 105,810 shares in Twist Bioscience for $6.2 million and 25,029 shares in Bullish for $900,000.
• ARK sold 1,859 shares of Advanced Micro Devices worth a total of $835,787, continuing a week-long trend of reducing its position
• Cerebras’ inclusion in the S&P has been accelerated, effective May 25, bypassing the usual 12-month waiting period
• Cerebras gets 86% of its revenue from just two Abu Dhabi-linked clients, raising concerns about concentration risks

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

ARK purchased 42,126 shares of Cerebras stock through the ARKK and ARKW ETFs. The total value was approximately $11.8 million. This follows ARK’s purchases into Cerebras in previous weeks.

Cerebrase Systems, CBRS

Minds It went public on May 14. Shares were priced at $185, opened at $350, and briefly reached $385 on the 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. This valuation came despite the company reporting total revenue of $510 million and 2025 net income of $87.9 million.

The IPO attracted demand 20 times greater than the shares available. This level of interest indicates investors’ confidence in the company’s technology rather than its current financials.

What makes Cerebras different?

Cerebras is building a chip that keeps the entire silicon wafer intact rather than cutting it into smaller pieces. The result is a single processor roughly the size of a dinner plate. The company says this eliminates latency issues that come with linking multiple chips together.

This design has caught the attention of investors who are betting on its future Artificial intelligence computing infrastructure.

S&P Fast Track and what it means

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

Index inclusion means that funds that track the S&P index should automatically buy shares. This created additional buying pressure after the announcement.

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

One concern raised by analysts is customer concentration. Two Abu Dhabi-linked clients represent 86% of the company’s total revenue. If either relationship breaks down, it will be difficult to replace that income quickly.

No executive stock transactions were recorded over the past three months, according to available files.

Other ARK moves

ARK also purchased 105,810 shares of Twist Bioscience for $6.2 million, demonstrating continued interest in biotechnology. It added 25,029 shares of Bullish stock across three ETFs for about $900,000.

On the sell side, ARK offloaded 1,859 shares of… Advanced micro devices For $835,787 through the ARKW ETF. This continues AMD’s pattern of shrinking position over the past week.