Tracking 'Wooden Sister': Aggressively scooped up 4 million shares of XE, the nuclear energy newcomer, betting on AI infrastructure while continuing to take profits on AMD at high levels

On Friday (April 24) Eastern Time, boosted by multiple favorable factors, the S&P 500 Index and Nasdaq Composite both closed at record highs. Prospects of talks between the US and Iran to end conflicts, Intel's soaring stock price driving continued strength in the semiconductor sector, and the US Department of Justice ending its investigation into Fed Chair Powell further fueled market expectations of interest rate cuts.

Against this macro backdrop, Wooden Sister’s portfolio adjustments on April 24 demonstrated an extremely bold and forward-looking strategic shift:On the buying side, she made a massive bet by acquiring over 4 million shares of XE, a newly-listed advanced nuclear energy company, while simultaneously increasing her stake in its largest shareholder Amazon; on the selling side, she took profits on AI hardware (chips and testing equipment) at high levels and continued to divest from traditional assets facing technological disruption.

Buying focus: Strategic bet on AI energy bottlenecks, directly addressing the ‘energy endpoint’ of computing power

Aggressively bought $X-Energy (XE.US)$up to 4.02 million shares; while also purchasing $Amazon (AMZN.US)$280,500 shares of its largest shareholder.

X-Energy is an advanced nuclear energy company focused on High-Temperature Gas-Cooled Reactor (SMR, Small Modular Reactor) technology. On its Nasdaq debut last Friday, benefiting from explosive AI-driven electricity demand, its IPO priced above expectations, raising over $1 billion. The stock surged 27% on its first day, closing at $29.20 per share with a market value as high as $11.5 billion.

As X-Energy's largest shareholder (with approximately 24.9% ownership) and core customer, Amazon has committed to orders exceeding 5 gigawatts (GW) of new nuclear power supply in 2024. Based on the closing price on the first trading day, the value of Amazon’s stake has increased by over $400 million compared to the IPO price. Although X-Energy is still expected to incur losses in 2025 and commercialization will take several years, ARK's heavy investment is an early move to secure a rare piece of 'underlying power infrastructure' in the AI supply chain, anticipating its future valuation upside.

Sell-side direction: Profit-taking in semiconductor hardware at high levels, continuing to divest legacy assets

On the sell-side, ARK's 'sector rotation' and 'weeding out the weak to keep the strong' strategy is still in progress:

ARK significantly reduced its position in a chip giant $Advanced Micro Devices (AMD.US)$A total of 215,600 shares, while also selling off the leader in semiconductor automated testing equipment $Teradyne (TER.US)$A total of 32,600 shares.From an institutional investor’s perspective, this does not mean ARK is bearish on the AI sector, but rather reflects strict adherence to operational discipline. Driven by factors such as Intel's sharp rise, valuations in the semiconductor hardware sector are currently generally at historical highs. Cathie Wood chose to take profits on some hardware positions at this peak point, aiming to free up liquidity and precisely redirect funds to more attractively valued sectors that are on the verge of explosive growth, such as energy infrastructure (e.g., XE) and AI software.

Sold $Iridium Communications (IRDM.US)$33,300 shares.Following the massive sale of over 80,000 shares on April 20, ARK continues to divest from this traditional low-orbit satellite communication service provider. With SpaceX Starlink aggressively advancing its 'direct-to-phone' services, IRDM's traditional moat is being rapidly dismantled. ARK is firmly removing such assets facing disruptive innovation threats from its core portfolio.

Reduced stake in a small rocket launch provider $Rocket Lab (RKLB.US)$113,400 shares, as well as traditional heavy machinery giant $Caterpillar (CAT.US)$5,334 shares.Against the backdrop of current high valuations and fluctuating macro expectations, ARK is focusing its resources by withdrawing funds from the aerospace sector, which has high commercialization volatility, and from old economy giants that are deeply affected by macro cycles, in order to further improve capital efficiency.

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