Cathie Wood's ARK Invest sold Meta stock on a big day for the company and loaded up on another AI play instead -- healthcare tech company Tempus AI.

Meta was in focus for several reasons Wednesday. The Instagram owner -- along with Google's YouTube -- lost a landmark social-media addiction trial. A jury found the companies were negligent for operating a product that harmed children and teenagers. Both Meta and Alphabet said they plan to appeal.

Investors were also digesting Meta's new executive pay plan, which targets a 500% stock surge and $9 trillion valuation by 2031. The company also confirmed to Barron's that it was laying off several hundred workers in its sales, recruiting, and virtual reality divisions. The shares rose just 0.3% Wednesday after all that.

But Cathie Wood's ARK funds took the opportunity to sell. ARK sold 3,578 Meta shares across three of its funds, according to a trading notification Wednesday. That's worth around $2.1 million based on the stock's closing price.

Most of the selling came from the ARK Innovation exchange-traded fund, which now holds around 105,000 Meta shares -- worth close to $63 million. It's around 1% of the fund's weight, and its 32nd largest position out of 44.

Tempus AI, on the other hand, has become a big favorite for ARK and Cathie Wood. ARK's Innovation ETF bought 72,290 shares of the healthcare technology company, worth around $3.3 million at the close. ARK's Genomic Revolution fund bought 12,649 shares.

It looks like dip-buying -- the stock fell 4.2% Wednesday and is now down 21% in 2026.