Cathie Wood’s ARK Invest purchased $53 million of Nvidia stock on August 28, capitalizing on a pullback that followed the chipmaker’s blowout earnings report two days earlier, according to disclosures reviewed by market tracking firms.
Nvidia reported second-quarter results on August 26 with revenue of $96.22 billion—a 106% increase year-over-year—and adjusted earnings per share of $2.22, topping Wall Street estimates of $2.10 per share. Despite the strong beat, the stock dipped in the days after the report, creating the opening Wood’s team seized.
The purchase reflects Wood’s established pattern of deploying capital into quality companies when their shares retreat. According to recent reporting on ARK’s dip-buying activity, the firm has consistently added to positions in high-conviction names during temporary weakness, a strategy that has defined her investment approach across market cycles.
Nvidia’s data center segment—the core driver of earnings growth—posted revenue of $89 billion, up 117% from the prior year, signaling sustained demand for AI infrastructure despite earlier concerns about spending slowdowns. Wall Street analysts maintained bullish outlooks after the earnings release, with price targets clustering between $275 and $325, according to market analysis from August 30.
Wood’s August 28 purchase added to ARK’s existing stake in Nvidia, which had grown substantially through multiple tranches in prior weeks. On August 19, ARK bought approximately $27 million of Nvidia shares across five exchange-traded funds, and the firm had deployed additional capital into the chipmaker in early August as well, demonstrating consistent conviction in the AI infrastructure narrative despite near-term volatility.
The timing underscores a broader dynamic: even as Nvidia delivered record quarterly results, the immediate post-earnings environment created temporary pricing inefficiency—exactly the moment when Wood’s strategy of buying strength on weakness has historically added value for ARK’s investors.
Sources
- TheStreet — Reported Cathie Wood’s $53 million Nvidia purchase on August 30, noting the stock’s pullback after earnings.
- BitTime — Confirmed ARK Invest bought 243,707 Nvidia shares worth approximately $53–55.6 million on August 28, 2026, precisely when the price corrected after the earnings surge.
- Kiplinger — Provided Nvidia’s Q2 earnings figures: $96.2 billion revenue (up 106% YoY), $2.22 EPS, and data center segment revenue of $89 billion (up 117% YoY).
- Reuters — Reported on Nvidia stock’s post-earnings movement, noting a 4.2% rise in heavy trading of over 50 million shares.
- Yahoo Finance — Confirmed ARK’s August 19 purchase of approximately $27 million in Nvidia shares across five ETFs.
- Intellectia AI — Documented analyst price target clustering ($275–$325) following Nvidia’s August 26 earnings release.
