Cathie Wood Adds More Nvidia and Cuts AMD Holdings in ARK Funds. This Is a Major Vote of Confidence for NVDA Stock.

The AI chip space is heading into the second half of 2026 with strong momentum. The S&P 500 Index ($SPX) hit fresh record highs this week, driven largely by the ongoing AI rally. The Nasdaq ($IUXX) is already up more than 16% this year, and Marvell Technology (MRVL) saw its biggest single-day gain since its IPO after Nvidia's (NVDA) CEO Jensen Huang said it could become “the next trillion-dollar company.”

At the same time, competition is heating up. Intel Corporation (INTC) recently unveiled its Crescent Island AI data center GPU at Computex 2026, going after a market currently led by Nvidia and Advanced Micro Devices (AMD). Then on June 1, Nvidia stepped into the PC processor space, introducing the RTX Spark superchip, its first PC processor, capable of delivering one petaflop of AI performance and supporting 120-billion-parameter models.