Despite being one of the biggest winners of the artificial intelligence (AI) boom, chip giant Advanced Micro Devices (AMD) is facing an unexpected vote of caution from one of Wall Street's most closely watched growth investors. AMD has been on a remarkable run, delivering triple-digit gains so far in 2026 as demand for its AI and data center chips continues to explode. Strong earnings, expanding partnerships with tech giants, and market-share gains against rivals such as Intel (INTC) and Nvidia (NVDA) have further helped cement its status as a leading AI play.
That makes the latest move from Cathie Wood all the more surprising. Wood, whose investment strategy is built around disruptive technologies, has been steadily reducing her firm's AMD position. Last week, ARK Invest sold about 80,536 AMD shares across its Ark Autonomous Tech and Robotics ETF (ARKQ), Ark Newxt Generation Internet ETF (ARKW), and Ark **** e Exploration and Innovation ETF (ARKX), a stake worth roughly $40 million. The transaction continues a broader trend of ARK trimming its exposure to the chipmaker even as AMD's business momentum remains strong.
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