Cathie Wood sells $11.8 million in Nvidia-backed stock before earnings

Cathie Wood’s ARK trimmed about $11.8 million of Nvidia-linked CoreWeave stock (sold 99,692 shares) on May 4 ahead of CoreWeave’s earnings, while simultaneously adding positions in Shopify and L3Harris. The moves reflect ARK’s profit-taking and active rebalancing after strong rallies in AI-related names. CoreWeave’s rally is underpinned by deep ties to Nvidia — including a $2 billion Nvidia investment — plus large customer agreements, but the company carries heavy debt and burned $452 million in the latest quarter, making upcoming results a clear risk. Market impact: ARK’s selling could cap near-term momentum in smaller AI plays, while broader investor focus stays on Nvidia-linked supply-chain beneficiaries and earnings as catalysts.