Ark Invest Funds Buy $12.2M of Baidu Shares, Add Amazon Stake and Exit Salesforce
ARK Innovation, ARK Autonomous Technology & Robotics and ARK Next Generation Internet ETFs acquired 97,597 Baidu shares valued at $12.2 million, while the Next Generation Internet ETF added 3,869 Amazon shares worth $804,442. The same internet-focused ETF sold 15,622 Salesforce shares for $3.1 million in proceeds.
1. Significant Baidu Acquisition
ARK Innovation, ARK Autonomous Technology & Robotics and ARK Next Generation Internet ETFs purchased 97,597 Baidu shares for $12.2 million at a closing price of $125.15 per share, signaling confidence in the Chinese AI growth prospects despite a 4% year-over-year revenue decline reported last quarter.
2. Amazon Stake Added
ARK Next Generation Internet ETF acquired 3,869 Amazon shares valued at approximately $804,442 after a recent 1.29% share price dip, reflecting optimism in Amazon Web Services’ aggressive expansion strategy.
3. Salesforce Position Trimmed
The internet-focused ETF sold 15,622 Salesforce shares for roughly $3.1 million following a 4.03% stock surge, locking in gains after strong fourth-quarter revenue growth of 12% and a newly announced $50 billion buyback plan.
4. Other Portfolio Adjustments
ARK funds also rebalanced positions in Nu Holdings, Butterfly Network, Iridium Communications and PagerDuty, adjusting exposure across financial services, healthtech, communications and IT services to align with evolving market trends.