Cathie Wood Is Selling AMD Before MI450 Arrives. Is She About to Miss Another Nvidia?
Cathie Wood is trimming AMD just as its biggest product cycle in years prepares to land, and the last time ARK sold an AI chipmaker too early, the stock went on to triple. Here is what the Helios launch changes…
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Cathie Wood’s ARK Invest has been trimming Advanced Micro Devices (NASDAQ:AMD | AMD Price Prediction) into strength, and the timing is what makes it interesting. The stock is up 143.32% year to date and 234.42% over the past year, trading around $521.10 as of the September 9, 2026 close. As of the April 30, 2026 ARKK snapshot, AMD was still the fund’s third-largest holding at 5.18% of net assets, so this reads as tactical position management.
Still, ARK has continued to sell shares into a rally that lines up with the MI450 launch cadence. The question worth answering is whether Wood is harvesting a volatile winner at a sensible point in the cycle, given how early Helios revenue still is.
Selling Into a Product Cycle That Is Just Beginning
AMD’s Q2 2026 revenue reached $11.5 billion, up 50% year over year, with Data Center revenue of $6.72 billion, up 107%. Non-GAAP EPS of $1.66 beat consensus, and management guided Q3 to approximately $13 billion, plus or minus $300 million.
Lisa Su said the company is “still in the early stages of a multi-year AI adoption cycle”, with Helios shipments beginning in Q3 and ramping through Q4 into 2027.
Wall Street sees more room. The analyst target price is $615.38, with 4 strong buys and 39 buys against 11 holds and zero sells.
Why MI450 and Helios Change the Competitive Ground
MI450 is AMD’s next-generation accelerator, but Helios is the point. Helios is a rack-scale system bundling EPYC Venice CPUs, MI450 GPUs, Pensando networking, and Rackham software, the integrated tier where hyperscalers actually buy.
The customer list is real. Anthropic committed to up to 2 gigawatts of MI450 in Helios racks, OpenAI to 6 gigawatts, and Meta to up to 6 gigawatts with a custom MI450-based part.
Su called customer pull “very strong and tracking ahead of our initial forecasts”, and management expects data-center AI to grow “well over 100%” in 2027.
The MI350 ramp already proved execution: Instinct sales more than doubled year over year.
Is AMD Stock a Buy?
Trimming a 5% position after a 234.42% run is defensible risk management. But selling aggressively before Helios revenue lands echoes the earlier Nvidia trim more than the Tesla one.
With a forward P/E of 30x, PEG of 0.486, and durable EPYC cash flow funding the accelerator push, the setup favors patience. The milestone to watch is Q4 2026 Data Center revenue, the first quarter Helios contributes materially. The buildout also lifts the companies supplying power, cooling, and networking around these racks, which we covered in a free report on seven AI infrastructure names beyond the chipmakers, here. Verdict: Buy.
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Omor Ibne Ehsan is a writer at 24/7 Wall St. He is a self-taught investor with a focus on growth and cyclical stocks that have strong fundamentals, value, and long-term potential. He also has an interest in high-risk, high-reward investments such as cryptocurrencies and penny stocks.
