(Bloomberg) — Cathie Wood sold shares of Taiwan Semiconductor Manufacturing Corp. for the first time in greater than two years, adding to its moves to cut exposure inside the chipmaker’s key customer Nvidia Corp.

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Ark Autonomous Technology and Robotics ETF sold 8,599 American depository receipts of Taiwan’s largest company Friday in its first sale of the stock because the top of 2021, Ark Investment Management LLC data compiled by Bloomberg show. The similar ETF sold 2,362 shares of Nvidia the similar day.

Wood is trimming her holdings within the worldwide chip bellwethers at a time artificial intelligence frenzy intensifies, with Nvidia’s stellar earnings powering global markets to recent heights. Nvidia is up 59% year-to-date and TSMC’s US-traded shares have soared 25%.

Wood was one in every of the crucial distinguished voices predicting AI could possibly be a game-changer. Despite that, She sold Nvidia shares throughout last yr, betting on growth potential in less talked about software corporations resembling UiPath Inc. and Twilio Inc.

Ark funds had purchased shares of TSMC multiple times in 2023. The autonomous ETF, which focuses on corporations relevant to industrial innovation, has missed out on the rally that has given Nvidia a near $2 trillion valuation, surpassing Amazon.com Inc. and Alphabet Inc.

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