This roundup covers trades by Cathie Wood-led Ark Invest on Tuesday. Ark purchased 22,734 Meta Platforms shares valued at $17.3 million based on the closing price of $762.50. Ark purchased 2,609 Meta shares through the ARK Blockchain & Fintech Innovation ETF (ARKF). Ark purchased another 20,125 Meta shares through the ARK Next Generation Internet ETF (ARKW).
Meta CEO Mark Zuckerberg defended the scale of Meta's AI spending. Zuckerberg recounted discussions with Chief AI Officer Alexandr Wang about committing $100 billion to $200 billion to Meta's AI ambitions. Zuckerberg recalled saying, "We're going to write this check for, like, I don't know, like $100 billion, $200 billion," before asking Wang whether the investment would work. Zuckerberg highlighted Meta's Prometheus computing cluster in Ohio, which is scaling beyond one gigawatt. Zuckerberg also highlighted Meta's planned Hyperion cluster in Louisiana, which is expected to scale to five gigawatts.
Zuckerberg estimated that a one-gigawatt cluster could cost approximately $15 billion annually to operate. Zuckerberg estimated upfront capital costs of $50 billion to $60 billion for such a cluster. Zuckerberg said Meta's profitable core business and access to credit could support the investment. Zuckerberg identified subscriptions and AI tools for small businesses as potential revenue streams. Benzinga Edge Stock Rankings give Meta a Momentum score in the 73rd percentile and a Value score in the 46th percentile.
Ark purchased 67,362 Cerebras Systems shares through ARKW on Tuesday. The purchase was valued at nearly $10 million based on Tuesday's closing price of $149.08. Cerebras faced the release of up to 19.4 million shares from IPO lock-up restrictions on Wednesday, October 14. The release would make those shares eligible for sale, potentially adding selling pressure. Cerebras shares closed at a record low of $146.62 on Monday, approximately 58% below the $350 opening price in May. Monday's closing price was also about 21% below the $185 IPO price.
Questions persisted about Cerebras' relationship with OpenAI following a SemiAnalysis report that OpenAI's new ultrafast offering would run on Nvidia GPUs. Sam Altman subsequently reaffirmed the partnership. Citi maintained its 2026-2028 revenue outlook for Cerebras. Cerebras has a multiyear agreement worth more than $20 billion to provide OpenAI with 750 megawatts of computing capacity.
Ark sold 3,465 Alibaba Group Holding shares through ARKF on Tuesday. Alibaba shares closed at $110.85 in New York on Tuesday, making the sale worth $384,095. Alibaba had rallied alongside other U.S.-listed stocks of companies from China on Friday amid speculation that authorities in China had intervened to limit mainland-market selling.
Bloomberg reported that traders cited unverified guidance restricting sell orders and possible purchases by state-backed investors. The precise trigger for the market reversal remained unclear. The reported restrictions had not been confirmed. Lotus Asset Management Chief Investment Officer Hao Hong said state-backed buying likely emerged after the Shanghai Composite slipped below 3,800. Investors viewed 3,800 as a near-term support level.
Ark Invest Buys $17M in Meta Shares as Zuckerberg Commits to $100B–$200B AI Investment
BenzingaShare
Summary
Ark Invest added $17.3 million in Meta shares on Tuesday, buying 22,734 Meta Platforms shares via its ARK Blockchain & Fintech Innovation ETF and ARK Next Generation Internet ETF. This comes as Meta CEO Mark Zuckerberg announced a $100B–$200B AI investment, including $50B–$60B in upfront costs for computing clusters like Prometheus and Hyperion. The move aligns with growing AI + crypto news and ETF news, as institutional investors continue to position for AI-driven tech.
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