Cathie Wood Triggers AMD Selloff With $22 Million Stock Sale

This article first appeared on GuruFocus.

Sep 23 – Advanced Micro Devices (NASDAQ:AMD) fell Thursday after ARK Investment Management, led by Cathie Wood, reduced its position in the chipmaker.

ARK sold about 138,400 shares valued at roughly $22 million. The sale price averaged close to $161 per share. The move came as AMD faced stronger competition in both CPUs and GPUs.

On the other hand, Intel (NASDAQ:INTC) has drawn renewed investor attention after securing $8.9 billion from the U.S. government and an additional $5 billion commitment from Nvidia (NASDAQ:NVDA). Reports also suggest Intel has held talks with Apple (NASDAQ:AAPL) on expanding cooperation, adding to concerns for AMD.

On Thursday, AMD stock fell about 2% but remained up more than 33% since the start of 2025. Over the past 12 months, the shares have slipped nearly 4%.

Despite headwinds, demand from artificial intelligence applications has provided a boost to AMD’s revenue this year.