Cathie Wood’s Ark Invest reduced its AMD position on July 6, selling more than 15,000 shares valued at over $8 million through the Ark Innovation ETF. Although such a sale could raise concerns, it likely reflects routine portfolio rebalancing instead of weakening confidence in AMD.

The sale followed a successful investment made in February, when Ark bought more than 141,000 AMD shares after the stock plunged 17.3% following disappointing earnings. Wood viewed the decline as a buying opportunity.

AMD’s fortunes improved significantly after reporting stronger-than-expected first-quarter 2026 results, with revenue, earnings per share, and second-quarter guidance all exceeding forecasts. The stock rallied sharply, climbing to $516 by July 7 after opening at $351 before the earnings release.

Ark also purchased $5.6 million worth of Kratos Defense & Security Solutions shares on July 6, indicating it was likely rotating capital into new opportunities while locking in gains from AMD’s strong rally.