Cathie Wood’s Ark Invest purchased 78,756 shares of Cerebras Systems, deepening its bet on the AI chipmaker that positions itself as a credible alternative to Nvidia. The fund has been methodically building its position since the company’s IPO on May 13, 2026, at $185 per share, after a 68% surge on its first trading day to $311.07. In the second quarter, Cerebras reported core revenue of $209.9 million, up 103% year-over-year, while raising its full-year guidance. To fund these purchases, Ark Invest reduced positions in Palantir and Shopify, reallocating capital toward what it views as a higher-growth opportunity in AI hardware.
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