Cathie Wood dumps $1.3M in Robinhood to buy top AI stocks

Cathie Wood dumps $1.3M in Robinhood to buy top AI stocks originally appeared on TheStreet.

Ark Invest CEO Cathie Wood sold Robinhood Markets (Nasdaq: HOOD) shares worth $1.3 million to acquire Nvidia (Nasdaq: NVDA) and Advanced Micro Devices (Nasdaq: AMD) shares worth $4.1 million each on Aug. 4.

Robinhood, an old favorite of Wood, is a prominent trading exchange that offers cryptocurrencies and tokenized stocks.

On July 30, it reported impressive financial results for the second quarter of the year The company's net revenue jumped 45% year-over-year (YoY) to $989 million, net income grew 105% YoY to $386 million, and diluted earnings per share (EPS) jumped by a surprising 100% YoY to $0.42.

However, President Donald Trump's tariff announcement the next day dampened the spirit of the market as the HOOD stock plunged 3% on Aug. 1. As the stock recovered by 6% on Aug. 4, ARK Invest offloaded 12,613 shares.

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The investment firm instead bought $4.1 million in 23,211 shares of Nvidia (Nasdaq: NVDA), the world's leading chipmaker whose value has surged extraordinarily over the past few years due to its pivot toward AI.

ARK Invest also bought 23,418 AMD shares worth $4.1 million on the day. Nvidia's biggest rival, AMD is one of the top chipmakers in the world which has also made a strategic foray into AI technology.

Notably, both Nvidia and AMD play a crucial role in the world of crypto mining as miners are dependent on their high-tech AI-driven technology for extensive energy usage. Wood has been betting on both these firms, which are expected to report their Q2 earnings within a few days.

Cathie Wood dumps $1.3M in Robinhood to buy top AI stocks first appeared on TheStreet on Aug 5, 2025

This story was originally reported by TheStreet on Aug 5, 2025, where it first appeared.

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