Key Highlights
- ARK Investment Management offloaded 23,573 AMD shares valued at $11.7 million on July 17
- The firm acquired 147,805 SpaceX shares totaling $19.4 million across multiple ETFs
- AMD experienced an 11%+ decline last week following broader semiconductor sector pressure
- ARK Innovation ETF trails with a 3.43% loss in 2026 versus the S&P 500’s 8.94% advance
- UBS elevated AMD’s price target to $700, pointing to robust AI accelerator market dynamics
Cathie Wood’s ARK Investment Management executed a significant portfolio rebalancing on July 17, divesting Advanced Micro Devices holdings while simultaneously increasing exposure to SpaceX and other strategic positions. The transactions reflect a deliberate shift in ARK’s investment thesis.
The firm liquidated 23,573 AMD shares representing approximately $11.7 million in value, calculated using the stock’s July 17 closing price of $495.76. This transaction continues a monthlong selling pattern ā ARK has now divested 137,421 AMD shares throughout July, totaling roughly $68.1 million at present market valuations.
Advanced Micro Devices, Inc., AMD
Despite the consistent divestment activity, AMD maintains its position as ARK Innovation ETF’s eighth-largest holding. The chipmaker represented 4.04% of the fund’s total portfolio allocation as of July 16.
The semiconductor manufacturer experienced a significant decline exceeding 11% during the previous week. Market turbulence originated with Micron Technology’s weakness, triggered by reports that Chinese competitor ChangXin Memory Technologies is advancing toward a Shanghai IPO potentially raising $9.8 billion.
While AMD operates outside the memory chip segment, profit-taking rippled throughout the semiconductor industry following an extended rally this year. Despite recent volatility, AMD maintains impressive gains of 131.5% year to date.
SpaceX Becomes Major ARK Bet
Simultaneously, ARK accumulated 147,805 SpaceX shares valued at $19.4 million distributed across its various ETF vehicles. The firm also initiated a position in CoreWeave, purchasing 115,827 shares worth approximately $8.4 million.
Additional purchases included positions in Kratos Defense and Security Solutions alongside AeroVironment, reinforcing ARK’s sustained focus on defense and aerospace sector opportunities.
ARK Innovation ETF Underperforms Benchmark
ARK Innovation ETF has declined 3.43% year to date in 2026, substantially underperforming the S&P 500’s 8.94% appreciation during the identical timeframe. Examining a five-year horizon reveals an annualized negative return of 8.23%, contrasting sharply with the S&P 500’s 11.50% annualized gain.
According to ETF research provider VettaFi, the fund experienced approximately $1.26 billion in net redemptions during the 12-month period ending July 16.
Wood maintains her conviction that technological innovation, especially artificial intelligence, exerts deflationary pressure on the broader economy. She contends this dynamic will produce declining inflation rates, accommodative monetary policy, and accelerated economic expansion ā market conditions she believes particularly benefit innovation-focused equities.
AMD faces an immediate catalyst with CEO Lisa Su scheduled to introduce the MI450X accelerator alongside the MI500 GPU product line at the company’s Advancing AI 2026 conference scheduled for July 22 and 23.
UBS analyst recently upgraded AMD’s price objective to $700 from $670 while maintaining a buy recommendation. The investment bank simultaneously increased its 2027 revenue projection for AMD to $83.4 billion and elevated its earnings forecast to $14.63 per share.
AMD is scheduled to announce its quarterly financial results in August.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
