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While the rest of the market was busy panic-selling after Meta’s disappointing second-quarter earnings, Cathie Wood went shopping. ARK Invest scooped up millions of dollars worth of Nvidia and Taiwan Semiconductor Manufacturing Company shares in late July, treating the broader tech selloff as a clearance sale on AI infrastructure.
Meta reported Q2 2026 earnings per share of $6.18 on July 29, missing Wall Street’s consensus estimate of roughly $7.18. The miss sent ripple effects across the tech sector, dragging semiconductor names down with it.
The trades behind the thesis
ARK Invest purchased approximately 73,000 to 79,000 Nvidia shares around July 28-30, a position valued at roughly $14 million to $15.5 million. The firm simultaneously loaded up on TSMC, with purchases totaling an estimated $14 million to $20 million spread across its flagship funds: ARKK, ARKQ, ARKW, and ARKX.
One reported tranche alone consisted of 37,916 TSMC shares valued at around $14.2 million.
At the same time, ARK was trimming its positions in Amazon, Alphabet, and Shopify.
Why chips over Meta
TSMC’s own numbers tell that story clearly. The company reported quarterly revenue of $40.2 billion, a 34% increase year-over-year. TSMC shares had declined roughly 7% over the prior month before ARK stepped in, creating exactly the kind of entry point Wood’s team looks for.
Nvidia, meanwhile, remains the dominant supplier of AI training chips, and TSMC is the foundry that actually manufactures them.
The bigger portfolio rotation
The decision to sell Amazon, Alphabet, and Shopify while buying Nvidia and TSMC reflects a meaningful shift in ARK’s portfolio composition. Combined, the Nvidia and TSMC buys represented roughly $30 million in fresh capital deployed into semiconductor stocks during one of the more anxious weeks of the quarter.
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