TLDR
- Cathie Wood’s ARK Invest offloaded roughly 5,400 Tesla shares valued at $2.4 million on November 10, continuing its portfolio rebalancing strategy.
- ARK purchased 173,798 Pony AI shares worth $2.5 million, increasing its stake in autonomous driving technology.
- The firm bought 16,598 Taiwan Semiconductor shares valued at $4.9 million amid strong AI chip demand.
- ARK invested $12.4 million in Baidu stock, adding 94,095 shares across multiple ETFs.
- Tesla’s China sales declined 32.3% month-over-month and 9.9% year-over-year in October, reaching 61,497 units.
ARK Invest executed multiple trades on November 10 that shifted its portfolio away from Tesla and toward artificial intelligence and semiconductor companies. Cathie Wood’s investment firm sold Tesla shares while making purchases in autonomous driving, chip manufacturing, and Chinese AI stocks.
The firm sold approximately 5,400 Tesla shares across its exchange-traded funds. Based on Tesla’s closing price of $445.23, the sale totaled around $2.4 million.
This transaction marks another reduction in ARK’s Tesla position. The electric vehicle company has historically represented a large portion of Wood’s portfolio holdings.
Tesla’s stock has experienced fluctuations as investors monitor the company’s sales performance. Recent data from China has highlighted challenges in a critical market for the automaker.
China Passenger Car Association data shows Tesla sold 61,497 China-made vehicles in October. This represents a 9.9% decline compared to the same month in 2024.
The sequential decline was more pronounced. Sales fell 32.3% from September to October in the Chinese market.
Self-Driving Technology Play
ARK’s Autonomous Technology & Robotics ETF acquired 173,798 Pony AI shares. The purchase totaled approximately $2.5 million at a closing price of $14.45 per share.
Pony AI operates in the autonomous vehicle space. The company recently completed production of its 300th ARCFOX Alpha T5 robotaxi in collaboration with BAIC Group.
The self-driving technology company also launched a Hong Kong initial public offering. Pony AI priced shares at HK$139 each, generating about HK$6.7 billion in proceeds from 48.25 million shares.
The stock began trading on the Hong Kong Stock Exchange on November 6 under ticker 2026. Company officials said proceeds would fund commercialization of Level 4 autonomous driving systems and research expansion.
Chip and AI Stock Purchases
ARK’s Space Exploration & Innovation ETF bought 16,598 Taiwan Semiconductor shares. The transaction was valued at roughly $4.9 million.
Taiwan Semiconductor posted strong October revenue numbers fueled by advanced chip demand. The foundry manufactures processors for technology giants like NVIDIA and Tesla.
ARK made its biggest purchase in Baidu shares. The firm acquired 94,095 shares worth about $12.4 million through the ARKK and ARKQ ETFs.
Baidu operates as a leading Chinese artificial intelligence company. The firm maintains active AI development programs while navigating regulatory requirements in multiple jurisdictions.
Investment Strategy Shift
The trades demonstrate ARK’s evolving approach to technology investments. Wood’s firm has been adjusting exposure levels across different innovation sectors.
Selling Tesla shares reduced concentration risk while purchases increased positioning in AI infrastructure. The moves reflect ARK’s focus on companies powering artificial intelligence development.
Taiwan Semiconductor plays a central role in the semiconductor supply chain. The company produces chips that enable AI applications, cloud computing, and machine learning systems.
ARK’s Baidu investment comes during a period of heightened regulatory oversight. Chinese technology companies face scrutiny from both U.S. and Chinese authorities regarding cross-border operations.
The firm’s Pony AI purchase aligns with its autonomous technology thesis. Self-driving vehicle companies are working to commercialize robotaxi services and expand deployment.
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