ARK Invest Sells $27.8M Nvidia Shares as Export Controls Expand
Cathie Wood’s ARK Invest sold 155,441 Nvidia shares worth $27.8 million on March 26, marking its largest single-day reduction this year, while US lawmakers introduced the MATCH Act to expand export controls on semiconductor tools vital for Nvidia’s AI chips. Nvidia shares slipped 3% following a 13% oil price surge.
1. ARK Invest's Largest Single-Day Nvidia Sale
On March 26, ARK Invest sold 155,441 Nvidia shares valued at $27.8 million, marking the fund's biggest one-day reduction in the chipmaker this year. The move reflects ARK's strategy to rotate capital from established AI hardware to early-stage AI and cloud computing ventures.
2. MATCH Act Proposes Tougher Export Controls
Lawmakers in the House introduced the MATCH Act to expand export restrictions on semiconductor manufacturing tools from US and allied firms, including Applied Materials, Lam Research, KLA, ASML and Tokyo Electron. If enacted, the measure would tighten curbs on equipment essential for producing Nvidia’s AI processors, potentially constraining supply chains.
3. Geopolitical Tensions Fuel Market Volatility
An over 13% surge in oil prices due to escalating Middle East tensions triggered a broader tech sell-off, pushing Nvidia shares down roughly 3% as energy sectors gained. The dip also saw Nvidia pull back to a historically bullish trendline, testing support levels among chip stocks.