Key HighlightsARK Invest acquired approximately 300,000 Nvidia shares valued at $63 million on June 1, 2026The firm simultaneously divested roughly 110,000 AMD shares worth approximately $56 millionNvidia’s stock surged approximately 6% following the announcement of innovative AI PC processors at ComputexAMD experienced a decline of up to 5.5% amid concerns about Nvidia’s market expansionTigress Financial’s Ivan Feinseth elevated his Nvidia price forecast to $425, suggesting 92% potential growthOn Monday, June 1, 2026, Cathie Wood’s ARK Invest executed a decisive portfolio rebalancing that sent a strong signal to the market. The investment firm loaded up on Nvidia shares while simultaneously exiting AMD.The transaction involved ARK acquiring approximately 300,000 Nvidia shares distributed across multiple ETFs within its portfolio. This strategic purchase totaled around $63 million.NVIDIA Corporation, NVDAConcurrently, ARK divested its position in AMD, selling roughly 110,000 shares. The AMD divestment generated approximately $56 million.Market Reactions: The Tale of Two Chip GiantsNvidia stock experienced significant momentum on Monday, gaining approximately 6%. This rally followed the company’s presentation at the Computex technology conference, where it introduced a groundbreaking series of AI-optimized PC processors.Meanwhile, AMD stock moved in the opposite direction. The stock tumbled, reaching a peak decline of 5.5% during trading hours, though it recovered somewhat to close down roughly 1%.The market’s reaction reflects a fundamental concern among AMD stakeholders. Nvidia’s aggressive expansion into the PC processor segment directly challenges AMD’s established dominance in this space.ARK’s Strategic Reversal on NvidiaThis substantial Nvidia acquisition marks a notable pivot in Wood’s investment philosophy. Historically, she maintained a skeptical stance toward Nvidia’s valuation.In previous commentary, Wood expressed concern that Nvidia’s stock price had outpaced realistic expectations. Her thesis centered on the belief that artificial intelligence’s true value would ultimately accrue to companies implementing AI solutions, rather than semiconductor manufacturers supplying the underlying technology.She previously stated that “AI now has to play out elsewhere for Nvidia’s valuation to make sense.” Additionally, she cautioned that proprietary AI processors developed by major technology corporations could erode Nvidia’s competitive advantage.Monday’s portfolio adjustments indicate a fundamental reassessment of this position.ARK’s activity extended beyond Nvidia. The firm acquired 62,669 shares of Cerebras Systems, representing approximately $14.85 million. This purchase aligns with a broader trend of ARK accumulating positions in AI semiconductor companies throughout the week.Additionally, ARK liquidated 23,584 shares of Teradyne, valued at roughly $8.83 million. This sale continues ARK’s recent trend of scaling back its Teradyne exposure.Wall Street’s Perspective on NvidiaIvan Feinseth, an analyst at Tigress Financial, upgraded his Nvidia price objective from $360 to $425. He maintained his Strong Buy recommendation on the semiconductor leader. This revised target suggests potential appreciation of approximately 92% from current trading levels.Feinseth characterized Nvidia as “the must-own core holding for the AI investment cycle.” He highlighted the company’s Blackwell GPU architecture, advanced networking technologies, and comprehensive CUDA software ecosystem as fundamental competitive differentiators.Nvidia commands a Strong Buy consensus among Wall Street analysts, with 40 professionals covering the stock. The breakdown includes 38 Buy recommendations, one Hold rating, and one Sell rating. The consensus 12-month price target stands at $309.86, representing roughly 38% upside from recent price levels.AMD similarly enjoys a Strong Buy consensus rating from 35 analysts, comprising 27 Buy ratings and 8 Hold ratings. However, its average price target of $477.33 actually sits approximately 6% below recent trading levels.The post ARK Invest Pivots: $63M Nvidia (NVDA) Purchase While Offloading AMD appeared first on Blockonomi.