Cathie Wood Dumps $2.4 Million Worth Of Tesla Shares, Doubles Down On These AI Stocks

Group 1: Ark Invest's Trades - Ark Invest executed significant trades involving Tesla, Pony AI, TSMC, and Baidu, indicating a strategic focus on the tech and AI sectors [1] - The sale of 5,426 shares of Tesla across ARK Innovation ETF and ARK Next Generation Internet ETF amounted to approximately $2.4 million at a closing price of $445.23 [2] - Ark's ARK Autonomous Technology & Robotics ETF purchased 173,798 shares of Pony AI for about $2.51 million, reflecting confidence in the company's autonomous driving advancements [3][4] Group 2: Company Developments - Tesla's CEO emphasized a shift towards self-reliance in semiconductor production, moving away from reliance on external suppliers like TSMC to enhance AI capabilities [3] - Pony AI celebrated the production of its 300th ARCFOX Alpha T5 robotaxi, showcasing its commitment to expanding commercial services [4] - Pony AI's Hong Kong IPO was priced at HK$139 per share, raising approximately HK$6.7 billion to advance its Level 4 autonomous driving technology and R&D efforts [5] Group 3: TSMC and Baidu Insights - ARK Space Exploration & Innovation ETF acquired 16,598 shares of TSMC, valued at an estimated $4.9 million, as TSMC reported strong financial results driven by demand for advanced chips [6] - Ark's ARKK and ARKQ ETFs bought a total of 94,095 shares of Baidu for approximately $12.4 million, highlighting Baidu's ongoing significance in the AI sector despite regulatory challenges [7]