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Cathie Wood's ARK Investment Management has expanded its holdings in Nvidia (NASDAQ:NVDA) and Advanced Micro Devices (NASDAQ:AMD) amid optimism over a potential shift in U.S. chip export policies.
According to a recent filing, ARK purchased 107,661 shares of Nvidia, valued at around $12.2 million, through its ARK Autonomous Technology & Robotics ETF (ARKQ). This follows a smaller buy on April 23, when the fund added 11,000 Nvidia shares, worth roughly $1.09 million.
Similarly, ARK boosted its AMD stake, acquiring 114,581 shares valued at about $11.3 million. This adds to its earlier purchase on April 30, when the ARK Next Generation Internet ETF (ARKW) picked up 7,786 shares of AMD, valued at approximately $750,000.
These moves come as former U.S. President Donald Trump's team signals a rollback of Biden-era chip export restrictions. The current rule, set to take effect May 15, aims to block advanced AI chips from reaching China through third-party countries. However, the Trump camp has proposed a simpler framework that aims to protect national security without stifling innovation.
Shares of Nvidia and AMD have rallied on the news, reflecting investor confidence in the easing of U.S. export controls.
This article first appeared on GuruFocus.