Cathie Wood’s Ark Invest made a major shift Thursday by selling large amounts of big tech and AI related stocks. The firm trimmed positions in Meta, Nvidia, AMD, Taiwan Semiconductor, Broadcom, Alphabet, and Netflix across multiple Ark ETFs.

The largest sale was Meta, where Ark sold about $42 million worth of shares. The move comes as Meta faces legal challenges, layoffs, and broader market pressure tied to rising energy costs and economic uncertainty.

Ark also sold about $26.6 million worth of Nvidia and roughly $7.8 million worth of AMD. The sales come as some investors warn that AI stocks may be overvalued and could face corrections if expectations get too high.

The firm also trimmed Taiwan Semiconductor and Broadcom as concerns grow about chip supply constraints and production capacity limits through 2026. Ark also reduced its position in Alphabet and Netflix as part of the broader tech selloff.

In addition to big tech, Ark sold shares of the ARK Bitcoin ETF, Block, Roku, and Spotify. Overall, the trades suggest Ark may be reducing exposure to large cap tech and AI stocks amid valuation concerns and shifting market conditions.