Cathy Wood sells $110 million in AMD shares and moves to Nvidia

ARK Invest, led by renowned investor Cathy Wood, made a significant shift in its portfolio this week: it sold $110 million worth of AMD shares and purchased $81 million in Nvidia shares. The move aims to lock in profits from AMD's 184% surge this year while increasing exposure to Nvidia, whose market cap reached $5.56 trillion.

ARK Invest, led by renowned investor Cathy Wood, made a significant shift in its portfolio earlier this week. The firm purchased 356,681 shares of chip giant Nvidia for approximately $81 million, while simultaneously selling 181,767 shares of rival AMD for about $110 million. The move reflects a strategy of rapid profit-taking alongside increased exposure to the AI market leader. The Nvidia share purchase came shortly after the company's board approved an expansion of its share buyback program by an additional $150 billion, bringing the total buyback authorization to $235 billion through fiscal year 2028. Analysts view this as a strong vote of confidence by management in the company's future. The decision to sell AMD shares follows a roughly 184% rise in the stock during 2026, compared to a more modest 22% gain for Nvidia over the same period. Nvidia's market cap reached an all-time high of $5.56 trillion in September 2026. Meanwhile, AMD's stock peaked at $615.52, and its market cap crossed the $1 trillion mark for the first time. The article notes market concerns about a potential bursting of the AI bubble.