TLDR
- Cathie Wood’s Ark Invest sold 215,643 AMD shares worth ~$75M after a 70% rally over the past month
- AMD jumped 13.9% on April 24 alone, boosted by Intel’s strong earnings report
- Intel’s stock surged 23% after reporting strong data center CPU demand driven by AI spending
- AMD remains Ark Innovation ETF’s third-largest holding at $416M despite the sell-off
- D.A. Davidson upgraded AMD to Buy, raising its price target from $220 to $375
Cathie Wood sold roughly $75 million worth of Advanced Micro Devices stock on April 24, cashing in after AMD climbed nearly 70% over the past month.
Advanced Micro Devices, Inc., AMD
Ark Invest’s daily trade data showed the firm offloaded 215,643 AMD shares across its funds. The sale was based on a closing price of $347.81.
The move looks like straightforward profit-taking. AMD still sits as the third-largest position in the Ark Innovation ETF (ARKK), with a market value of $416 million.
AMD’s recent run was lit by Intel. The chipmaker posted strong first-quarter earnings and raised guidance, pointing to rising demand for data center CPUs from companies ramping up AI infrastructure spending.
Intel’s stock jumped 23% on April 24. That ripple hit AMD hard — in a good way — sending it up 13.9% in a single session.
Intel CEO Lip-Bu Tan put it bluntly on the earnings call: “The CPU is reinserting itself as the indispensable foundation of the AI era.”
Wall Street Takes Notice
D.A. Davidson analyst Gil Luria upgraded AMD to Buy from Neutral and lifted the price target to $375 from $220.
“We view Intel’s results as a precursor for a huge step-up for AMD’s CPU franchise,” Luria wrote. He pointed to structural demand from agentic AI workloads as a driver.
Both AMD and Intel have raised CPU prices multiple times this year, with average increases of 10% to 15%, according to Nikkei Asia.
AMD reports its first-quarter results on May 5. Investors will be watching for more detail on AI-related revenue.
Wood’s Bigger Picture
ARKK is down 1.76% year-to-date, while the S&P 500 is up 4.67% over the same period.
Wood has been vocal about her outlook. She sees AI, robotics, and biotech driving what she calls a “great acceleration” in global growth.
“We’re not going into the Great Depression, we’re going into the great acceleration,” she said in a March Bloomberg podcast.
She has also argued that AI is deflationary, citing training costs dropping 75% per year and inference costs falling as much as 98% annually.
Despite that optimism, ARKK has seen roughly $1.12 billion in net outflows in the 12 months through April 21, according to ETF research firm VettaFi.
Over five years, ARKK has delivered an annualized return of -9.01%, versus 13.01% for the S&P 500.
GuruFocus has AMD’s GF Value at $212.86, flagging the stock as 63.4% overvalued at its current price. Insider selling at AMD has also totaled $63.9 million over the past three months.
AMD’s Q1 2026 earnings are scheduled for May 5
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