Ark Investment Management LLC founder and CEO Cathie Wood’s exchange-traded funds (ETFs) sold shares of Taiwan Semiconductor Manufacturing Corp (TSMC, 台積電) for the first time in more than two years, adding to its moves to cut exposure in the chipmaker’s key customer Nvidia Corp.
Ark Autonomous Technology and Robotics ETF sold 8,599 American depositary receipts of Taiwan’s largest company on Friday last week in its first sale of the stock since the end of 2021, Ark Investment data compiled by Bloomberg showed.
The same ETF sold 2,362 shares of Nvidia the same day.
Photo: Reuters
Wood is trimming her holdings in the global chip bellwethers at a time artificial intelligence (AI) frenzy intensifies, with Nvidia’s stellar earnings powering global markets to new heights.
Nvidia’s share price is up 59 percent year-to-date and TSMC’s US-traded shares have soared 25 percent.
Wood was one of the most prominent voices predicting AI would be a game-changer. Despite that, she sold Nvidia shares throughout last year, betting on growth potential in less-talked about software companies such as UiPath Inc and Twilio Inc.
Ark funds purchased shares of TSMC multiple times last year. The autonomous ETF, which focuses on companies relevant to industrial innovation, has missed out on the rally that has given Nvidia a near US$2 trillion valuation, surpassing Amazon.com Inc and Alphabet Inc.
TSMC, Asia’s most valuable company, inched up 0.14 percent yesterday to close at NT$698 in Taipei trading, having risen 17.71 percent so far this year, Taiwan Stock Exchange data showed.
Additional reporting by staff writer
SEEKING CLARITY: Washington should not adopt measures that create uncertainties for ‘existing semiconductor investments,’ TSMC said referring to its US$165 billion in the US Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) told the US that any future tariffs on Taiwanese semiconductors could reduce demand for chips and derail its pledge to increase its investment in Arizona. “New import restrictions could jeopardize current US leadership in the competitive technology industry and create uncertainties for many committed semiconductor capital projects in the US, including TSMC Arizona’s significant investment plan in Phoenix,” the chipmaker wrote in a letter to the US Department of Commerce. TSMC issued the warning in response to a solicitation for comments by the department on a possible tariff on semiconductor imports by US President Donald Trump’s
The government has launched a three-pronged strategy to attract local and international talent, aiming to position Taiwan as a new global hub following Nvidia Corp’s announcement that it has chosen Taipei as the site of its Taiwan headquarters. Nvidia cofounder and CEO Jensen Huang (黃仁勳) on Monday last week announced during his keynote speech at the Computex trade show in Taipei that the Nvidia Constellation, the company’s planned Taiwan headquarters, would be located in the Beitou-Shilin Technology Park (北投士林科技園區) in Taipei. Huang’s decision to establish a base in Taiwan is “primarily due to Taiwan’s talent pool and its strength in the semiconductor
An earnings report from semiconductor giant and artificial intelligence (AI) bellwether Nvidia Corp takes center stage for Wall Street this week, as stocks hit a speed bump of worries over US federal deficits driving up Treasury yields. US equities pulled back last week after a torrid rally, as investors turned their attention to tax and spending legislation poised to swell the US government’s US$36 trillion in debt. Long-dated US Treasury yields rose amid the fiscal worries, with the 30-year yield topping 5 percent and hitting its highest level since late 2023. Stocks were dealt another blow on Friday when US President Donald
UNCERTAINTY: Investors remain worried that trade negotiations with Washington could go poorly, given Trump’s inconsistency on tariffs in his second term, experts said The consumer confidence index this month fell for a ninth consecutive month to its lowest level in 13 months, as global trade uncertainties and tariff risks cloud Taiwan’s economic outlook, a survey released yesterday by National Central University found. The biggest decline came from the timing for stock investments, which plunged 11.82 points to 26.82, underscoring bleak investor confidence, it said. “Although the TAIEX reclaimed the 21,000-point mark after the US and China agreed to bury the hatchet for 90 days, investors remain worried that the situation would turn sour later,” said Dachrahn Wu (吳大任), director of the university’s Research Center for
RSS