Ark keeps trimming AMD at the worst possible time

Ark says “thanks, but no thanks”

Ark Invest was back in the AMD trading booth on Monday, unloading 37,836 shares worth about $17.4 million across several of its ETFs. That’s a pretty bold move when a stock is sitting at a 52-week high and everyone else is acting like AI data centers are the second coming.

Why this matters

AMD has been riding the same AI rocket as the rest of semis, with expectations for data-center demand doing most of the heavy lifting. But Ark has now been trimming the name repeatedly, including a near-$21.1 million sale on Friday and almost $48.4 million dumped over the past week. In plain English: the stock is hot, and Ark seems to be saying, “cool story, let’s lock in some gains.”

The bigger trade tape

This wasn’t just an AMD day. Ark was also:

• buying Tempus AI, which got a lift from a strong first quarter
• adding to Circle, riding the company’s crypto momentum
• trimming Rocket Lab, even as defense and space demand stays chunky

So no, this isn’t a full-on risk-off retreat. It’s more like portfolio reshuffling with a side of profit-taking. And when a big growth investor keeps selling into strength, you’ll want to at least ask whether the easy part of the rally is already behind it.

Big picture: AMD’s AI story still looks strong, but Ark’s trading says the stock may be entering the “great company, expensive price” phase of the cycle.