Cathie Wood Sells AMD, Invests $32M in Shopify Following Strong Earnings

TLDR

• ARK Invest purchased approximately 255,804 shares of Shopify valued at $32.6 million on May 5, 2026, following robust Q1 earnings results.
• Shopify generated $3.17 billion in revenue during Q1, marking a 34.3% increase compared to the same period last year, and achieved over $100 billion in gross merchandise volume (GMV) for the first time.
• On May 5, ARK sold $15.6 million worth of AMD shares, continuing its trend of reducing exposure to semiconductor stocks.
• AI-driven traffic to Shopify merchant stores surged eightfold year-over-year.
• On May 6, ARK bought $7.9 million of Tempus AI and sold an additional $6.7 million of AMD.

---

(SeaPRwire) –   On May 5, 2026, Cathie Wood’s ARK Invest executed one of its most significant recent purchases by acquiring about 255,804 shares of Shopify across three of its exchange-traded funds.

Shopify Inc., SHOP

The total investment amounted to roughly $32.6 million, with the majority—$20.7 million—channeled through the ARK Innovation ETF, accounting for 7.8% of that fund’s market value.

Just the day before, on May 4, ARK had already invested $6.6 million in Shopify shares via the same ETF.

This buying activity followed Shopify’s release of its first-quarter 2026 financial results. The company reported $3.17 billion in revenue, reflecting a 34.3% year-over-year increase.

Shopify also reached a milestone by surpassing $100 billion in quarterly gross merchandise volume for the first time, while maintaining free cash flow margins of 15%.

Revenue from merchant solutions climbed to $2.42 billion, up from $1.74 billion in the prior-year quarter. Subscription solutions revenue rose to $750 million, compared to $620 million a year earlier.

CFO Jeff Hoffmeister noted that the results reflected “broad-based growth across geographies, merchant sizes, and channels.” Management projected second-quarter revenue growth in the “high 20s.”

Shopify’s AI Strategy

During the earnings call, Shopify President Harley Finkelstein described the company as having “entered the AI era with a clear advantage,” highlighting two decades of accumulated commerce data as a strategic asset.

Traffic to Shopify stores driven by AI grew eight times year-over-year. AI now accounts for more than half of all internal code written at Shopify. The number of large merchants generating over $100 million in GMV has nearly doubled over the past two years.

Shopify is collaborating with Google on the Universal Commerce Protocol, an open-standard initiative that also includes Amazon.

ARK Continues Reducing AMD Holdings

Simultaneously with its Shopify purchase, ARK continued selling Advanced Micro Devices stock. On May 5, it offloaded 45,917 shares of AMD, valued at approximately $15.6 million, across ARKK, ARKW, and ARKF.

AMD shares have risen around 96% year-to-date after strong earnings performance.

On May 6, ARK sold another 18,909 shares of AMD through ARKK, totaling about $6.7 million.

That same day, ARK acquired 145,794 shares of Tempus AI across ARKK and ARKG, amounting to $7.88 million. It also added 28,220 shares of Intellia Therapeutics to ARKK, worth $375,608.

Additionally, ARK sold 61,351 shares of Twist Bioscience across ARKK and ARKG for $3.48 million on May 6, extending a sell-off that began the previous week.

According to its most recent filing, ARK’s portfolio is increasingly focused on companies leveraging AI in practical applications, while trimming positions in semiconductor firms that have already delivered substantial gains this year.