Cathie Wood Is Selling AMD Before MI450 Arrives. Is She About to Miss Another Nvidia?

Cathie Wood's ARK Invest has been trimming its position in Advanced Micro Devices (AMD) following a massive rally that saw the stock gain 143.32% year to date and 234.42% over the past year to trade near $521.10. While AMD represented 5.18% of ARK Innovation ETF's net assets as its third-largest holding as of April 2026, the ongoing divestment comes right ahead of the rollout of AMD's next-generation MI450 accelerator and Helios rack-scale systems. Despite ARK's profit-taking, AMD's operational momentum remains robust. The company reported Q2 2026 revenue of $11.5 billion, up 50% year-over-year, propelled by a 107% jump in Data Center revenue to $6.72 billion. Major AI leaders have committed significant power capacity to AMD's architecture, including OpenAI and Meta securing up to 6 gigawatts each, and Anthropic committing up to 2 gigawatts. With management forecasting data-center AI growth of over 100% in 2027 and Wall Street holding an average price target of $615.38, analysts view the current setup as a strong buying opportunity ahead of material Helios revenue recognition in Q4 2026.