Cathie Wood’s ARK Invest purchased 78,965 Nvidia shares worth $15.6 million across five of its largest ETFs on July 28, 2026, seizing on a sharp selloff in the chip sector that had spooked investors over concerns about circular financing in the artificial intelligence industry.
The purchase came as Nvidia stock fell nearly 5 percent, erasing roughly $250 billion in market value, according to financial news outlets tracking the decline. The selloff was triggered by reports that Nvidia was discussing providing as much as $250 billion in financing guarantees to support an OpenAI data-center project — a move that raised concerns about whether the AI industry’s explosive growth was being artificially propped up by interconnected funding arrangements.
ARK spread the Nvidia buy across five of its flagship funds: the ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), ARK Autonomous Technology & Robotics ETF (ARKQ), ARK Fintech Innovation ETF (ARKF), and ARK Genomic Revolution ETF (ARKG), according to data released by the funds.
The move typifies Wood’s long-standing investment philosophy: buying during periods of market weakness when other investors are selling. On the same day, ARK also picked up $12.4 million in Tesla shares and $12.2 million in SpaceX stock, bringing the total value of purchases across the three companies to roughly $40 million. This aggressive dip-buying during a broader technology sector selloff underscores Wood’s conviction in growth stocks even as the broader market questions AI valuations.
Nvidia has been a volatile position for ARK over the years. The fund famously sold out of Nvidia in January 2023, citing overvaluation concerns, only to watch the stock surge more than 160 percent in the following months. Wood has since returned to accumulating the stock at lower prices, signaling renewed confidence in the chip giant’s role in AI infrastructure. In June 2026, ARK bought $63.3 million worth of Nvidia shares as the stock rallied on a major announcement about new PC chips.
The July 28 purchase also reflects broader market dynamics. Concerns about circular financing — where AI companies borrow heavily from each other or their suppliers to fund expansion — have rattled investors who worry the model could collapse if demand slows. However, Wood’s repeated buying during these dips suggests she views the pullbacks as temporary corrections in a long-term AI infrastructure boom, rather than signals of fundamental problems with the sector’s trajectory.
Sources
- Investing.com — confirmed ARK Invest purchase of 78,965 Nvidia shares worth $15.5M on July 28, 2026, during a 5% selloff
- Benzinga — reported ARK bought $15.6M in Nvidia, $12.4M in Tesla, and $12.2M in SpaceX on July 28, 2026
- Yahoo Finance — confirmed the five-ETF purchase structure and the July 28 timing
- Bloomberg — reported on the $250 billion OpenAI financing concerns triggering the selloff
- Barron’s — detailed Nvidia’s June 2026 $63.3 million ARK purchase and the PC chip rally
- TradingView — covered ARK’s dip-buying strategy during the July 2026 selloff across multiple stocks
