Cathie Wood-LED ARC Investment Management sold a significant stake in the chipmaker NVIDIA Corporation NVDA on Thursday, possibly taking advantage of the stock price rise following the company’s optimistic outlook.

Four different funds operated by ARK sold over 65,600 Nvidia shares at an estimated value of nearly $25 million based on Thursday’s closing price. Woods flagship stock exchange fund, the ARC Innovation ETF ARKKclosed its Nvidia stake in early January, and since then the chipmaker’s market cap has increased by $560 billion. after to a Bloomberg report.

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In February, when Nvidia was trading at $234 a share, about 50 times forward earnings, Wood reportedly said the valuation was “very high.”

“We like Nvidia, we think it will be a good stock. The price has it — it’s the ‘check-the-box’ AI company,” Wood told CNBC, according to the Bloomberg report. “For a flagship fund, where we’ve focused on the names we have the most conviction in, part of that has to do with valuation.”

Nvidia’s first-quarter revenue was $7.19 billion, beating Street’s estimate of $6.52 billion. For the second quarter, Nvidia expects revenue of $11 billion, up or down 2%, compared to a consensus of $7.15 billion.

In addition to the chipmaker, ARK also reduced its stake in Class C shares from alphabet inc GOOG GOOGL with an estimated value of over $1.3 million based on Thursday’s closing price.

bulk purchase: Six different funds from ARK have acquired a whopping stake in it UiPath Inc AWAY with a valuation of over $72 million based on Thursday’s closing price. The purchase comes on a day when the stock closed down over 11% after the IPO announced its quarterly results.

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