Cathie Wood sells $9.5 million of popular AI stocks following big rally

From Yahoo Finance: 2025-06-15 12:47:00

Cathie Wood of Ark Investment Management sold $9.5 million of popular AI stocks following a big rally, trimming high-flying stocks that surged over 270% and 80% this year. Her flagship Ark Innovation ETF is up 8% year-to-date, outperforming the S&P 500. Wood’s investment strategy focuses on emerging high-tech companies in AI, blockchain, and robotics.

Wood’s Ark funds have seen volatile swings this year, from strong gains to sharp losses and now outperforming the market. Recent trades include selling Palantir Technologies shares valued at $7.6 million and CoreWeave Inc. shares worth $1.9 million. Palantir, providing AI-driven data analytics software, has gained 81.7% in 2025.

Palantir’s momentum stems from government work, with a $1.275 billion contract from the Defense Department. CoreWeave, specializing in GPU-accelerated computing for AI, reported a 420% revenue increase to $981.6 million in Q1. Despite concerns about valuations, both Palantir and CoreWeave have seen strong demand, unlike meme stocks.

Wood’s recent trades also include buying GitLab shares and selling Kratos Defense and Roblox. The Ark Innovation ETF saw $2 billion in net outflows over the past year, but a recent influx of $250 million signals renewed interest. Wood’s investment style, focusing on software and AI, has attracted loyal investors despite skepticism.



Read more at Yahoo Finance: Cathie Wood sells $9.5 million of popular AI stocks after big rally