Cathie Wood sells $75M of surging semiconductor stock

Cathie Wood’s ARK funds sold 215,643 shares of Advanced Micro Devices (AMD) on April 24, roughly $75 million at AMD’s $347.81 close, likely profit-taking after AMD jumped 13.9% that day and nearly 70% over the past month. The move came amid a chip rally sparked by Intel’s strong earnings and raised guidance for data-center CPUs, which lifted Intel and boosted AMD. The story highlights broader flows at ARK: ARKK is down YTD while the S&P 500 is up, ARK’s five-year annualized return remains negative, and the fund saw about $1.12 billion in net outflows over the prior 12 months. Market implications: profit-taking by a large active manager amid sector rotation and AI-driven CPU demand underscores elevated volatility in semiconductor stocks and continued headline-driven trading activity.