Cathie Wood Dumps $2.4 Million Worth Of Tesla Stock, Doubles Down On These AI Stocks - Tesla (NASDAQ:TSLA)

Core Insights - Ark Invest executed significant trades involving Tesla, Pony AI, TSMC, and Baidu, indicating a strategic focus on the tech and AI sectors [1] Tesla Trade - Ark Invest sold 5,426 shares of Tesla, totaling approximately $2.4 million at a closing price of $445.23 [2] - CEO Elon Musk highlighted Tesla's shift towards self-reliance in semiconductor production, moving away from suppliers like TSMC to enhance AI capabilities [3] Pony AI Trade - Ark's ARK Autonomous Technology & Robotics ETF purchased 173,798 shares of Pony AI for about $2.51 million at a closing price of $14.45 [4] - Pony AI celebrated the production of its 300th ARCFOX Alpha T5 robotaxi, showcasing its commitment to expanding commercial services [4] - The company priced its Hong Kong IPO at HK$139 per share, raising approximately HK$6.7 billion to advance Level 4 autonomous driving technology [5] TSMC Trade - Ark's ARK Space Exploration & Innovation ETF acquired 16,598 shares of TSMC, valued at around $4.9 million [6] - TSMC reported strong financial results for October, driven by high demand for advanced chips, underscoring its importance in the semiconductor industry [6] Baidu Trade - Ark's ARKK and ARKQ ETFs bought a total of 94,095 shares of Baidu, amounting to approximately $12.4 million [7] - Despite regulatory challenges for Chinese firms in U.S. listings, Baidu remains a significant player in the AI sector with strong strategic initiatives [7] Other Key Trades - Ark Invest's ARKF ETF sold 19,422 shares of SoFi Technologies [8] - ARKG ETF bought shares of CRISPR Therapeutics and Beam Therapeutics, while ARKK made additional purchases and sales across various companies [8]