Silicon to Blockchain: ARK's Strategic Pivot in Disruptive Tech

Cathie Wood's ARK Invest executed a significant portfolio shift on November 13, 2025, exiting a $22.5 million position in Advanced Micro Devices (AMD) while allocating $26 million to crypto-related firms Circle Internet Group and Bitmine Immersion Technologies, according to trading disclosures. The moves reflect a strategic pivot away from semiconductor stocks and into digital infrastructure and biotech sectors, signaling ARK's continued bet on disruptive technologies despite broader market volatility.

The AMD sale involved 87,051 shares transacted through the ARK Innovation ETF, following a 10% stock surge after the chipmaker's 2025 Analyst Day on November 11. AMD shares closed at $247.96 on November 13, down 4% from their post-event peak. ARK also reduced holdings in Pinterest ($15.6 million), Regeneron ($8.2 million), and Salesforce ($5.4 million), totaling over $29 million in divestments.

Concurrently, ARK bolstered its crypto exposure by purchasing 188,941 Circle shares for $16.3 million across three ETFs, marking the second consecutive day of buying.

Circle, issuer of the USDC stablecoin, saw its stock decline 4.59% to $82.34 on the day of the purchase. The firm also acquired 242,347 Bitmine shares for $9.8 million, expanding its stake in the crypto mining infrastructure provider. Bitmine's stock had fallen 9.86% to $36.57, aligning with broader sector weakness.

Biotech investments included $3.1 million in Beam Therapeutics and $1.2 million in Recursion Pharmaceuticals, extending a weeklong accumulation pattern in gene-editing and pharmaceutical innovation. The total trading activity exceeded $70 million, underscoring ARK's focus on high-growth, capital-efficient plays.

ARK's Circle purchases highlight confidence in stablecoin infrastructure, particularly as the firm explores a potential native token for its Arc blockchain network. Meanwhile, Bitmine's role in supporting crypto operations aligns with ARK's thesis on institutional adoption of blockchain technology.

The trades come as AMD faces heightened competition in AI chip markets, with CEO Lisa Su projecting 35% annual revenue growth over the next three to five years. Despite AMD's 97% year-to-date stock surge, ARK's exit suggests profit-taking amid speculative bets on next-generation rivals like Nvidia's MI400 chips.

ARK's strategy mirrors broader institutional trends, including David Tepper's Appaloosa Management, which added 950,000 AMD shares in Q3 2025 while exiting Intel. However, ARK's focus on crypto infrastructure diverges from traditional tech holdings, emphasizing long-term exposure to decentralized finance and digital asset networks.