Ark Invest buys $40 million of Tesla, SpaceX and Nvidia during AI-led market sell-off

Cathie Wood’s Ark Invest stepped up purchases of Tesla, SpaceX and Nvidia on July 28 as a global technology sell-off hit AI and semiconductor shares, while also adding a small position in the 3iQ Solana Staking ETF. ARK bought 40,281 Tesla shares worth about $12.38 million across four ETFs, 105,108 SpaceX shares valued at roughly $12.24 million across the same funds, and 78,965 Nvidia shares worth about $15.56 million across five active ETFs. The SpaceX buying followed an earlier roughly $14 million purchase in the same week, extending ARK’s exposure to Elon Musk’s aerospace company. The Nvidia purchase came as investors reassessed the cost and financing of AI infrastructure and the chipmaker lost its spot as the world’s most valuable publicly traded company to Apple during the rotation. Pressure spread across the sector, with Intel, AMD, SanDisk, Western Digital and Seagate Technology all falling more than 4%, while Asian markets also slumped. South Korea’s Kospi dropped 10.8%, triggering a temporary circuit breaker after losses crossed 8%, and Japan’s Nikkei 225 ended nearly 4% lower as Samsung Electronics and SK Hynix posted double-digit declines. ARK also bought 5,252 shares of the 3iQ Solana Staking ETF worth about $32,667, after investing roughly $251,500 in the same fund and BitMine Immersion Technologies on July 24. Separately, Lorenzo Valente, ARK Invest’s director of digital assets research, said the crypto industry is in its deepest consolidation phase, arguing that Hyperliquid and Pump.fun generated 67% of application revenue and that adding Ethena lifts the top-three share to almost 80%. He said that concentration could lead to more acquisitions, bankruptcies and shutdowns as capital shifts toward fewer businesses.