AMD shares declined after Cathie Wood’s ARK Invest sold a significant portion of its holdings on Monday, August 17.
The investment firm liquidated approximately 25,917 shares across several exchange-traded funds.
The divested shares were valued at approximately $13.1 million.
ARK Invest simultaneously purchased about $22.8 million worth of shares in primary rival Nvidia.
This strategic rotation signals a shift in conviction toward Nvidia’s position in the AI chip market.
Selling activity occurred amid a broader downturn for semiconductor stocks.