On Wednesday, the Cathie Wood-led Ark Invest made a significant move by purchasing a substantial number of shares in Tempus AI Inc. (NASDAQ:TEM) and selling shares of Block Inc. (NYSE:XYZ). The trades were executed through the ARKG and ARKK ETFs.
The Tempus AI Trade saw Ark Invest acquiring a combined total of 150,563 shares of Tempus across ARK Genomic Revolution ETF (BATS:ARKG) and ARK Innovation ETF (BATS:ARKK). The ARKG ETF added 19,582 shares, while the ARKK ETF purchased 130,981 shares. Tempus AI’s first-quarter financial results were impressive; the company reported revenue of $255.74 million, surpassing the estimated $248.13 million figure. Additionally, Tempus AI’s adjusted loss per share was narrower than expected, signaling a positive outlook for the AI-focused precision medicine company. The total value of the shares acquired by Ark Invest is $8.8 million based on the stock’s closing price of $58.41 on Wednesday.
