Key Highlights
- ARK Investment disposed of 23,573 AMD shares valued at $11.7 million on July 17
- The firm acquired 147,805 SpaceX shares for a total of $19.4 million
- Advanced Micro Devices stock plummeted more than 11% last week amid chip sector downturn
- ARK Innovation ETF has declined 3.43% in 2026, trailing the S&P 500’s 8.94% advance
- UBS analysts upgraded AMD’s price target to $700, pointing to robust AI accelerator momentum
Cathie Wood’s ARK Investment Management offloaded its position in Advanced Micro Devices on July 17, simultaneously increasing exposure to SpaceX and other holdings. These transactions reflect a strategic reallocation within ARK’s investment portfolio.
The firm divested 23,573 shares of AMD with an estimated value of $11.7 million, calculated using the July 17 closing price of $495.76. This transaction continues a significant pattern — throughout July, ARK has liquidated 137,421 AMD shares worth approximately $68.1 million at present market valuations.
Advanced Micro Devices, Inc., AMD
Despite the continuous reduction, AMD maintains its position as the eighth-largest holding in ARK Innovation ETF. As of July 16, the semiconductor company represents 4.04% of the fund’s total assets.
The chip manufacturer’s stock experienced a sharp decline exceeding 11% during the previous week. The broader semiconductor selloff initiated with Micron Technology facing pressure following news that Chinese competitor ChangXin Memory Technologies plans a Shanghai IPO potentially raising as much as $9.8 billion.
While AMD doesn’t operate in the memory chip segment, investors engaged in profit-taking across the entire semiconductor industry after an impressive rally this year. Despite the recent pullback, AMD shares remain up an impressive 131.5% year to date.
SpaceX Becomes Major ARK Acquisition
On the acquisition front, ARK snapped up 147,805 SpaceX shares valued at $19.4 million distributed across multiple ETFs. The investment firm also added CoreWeave to its portfolio, purchasing 115,827 shares worth approximately $8.4 million.
Additionally, ARK accumulated positions in Kratos Defense and Security Solutions and AeroVironment, demonstrating a sustained focus on defense and aerospace sector investments.
ARK Innovation ETF Underperforms Broad Market in 2026
ARK Innovation ETF has posted a decline of 3.43% year to date in 2026, significantly underperforming the S&P 500’s 8.94% gain during the identical timeframe. Looking at a five-year horizon, the fund has recorded an annualized return of negative 8.23%, contrasting sharply with the S&P 500’s 11.50% annualized performance.
According to data from ETF research provider VettaFi, the fund experienced approximately $1.26 billion in net capital outflows during the 12-month period ending July 16.
Wood has publicly stated her conviction that technological innovation is creating deflationary pressures in the economy, especially through artificial intelligence adoption. She contends this trend will result in declining inflation, reduced interest rates, and enhanced economic expansion — market conditions she believes are advantageous for innovation-focused equities.
AMD has a significant catalyst approaching on its calendar. CEO Lisa Su is scheduled to introduce the MI450X accelerator and MI500 GPU series at the company’s Advancing AI 2026 conference on July 22 and 23.
UBS recently upgraded its AMD price objective to $700 from $670, maintaining a buy recommendation. The investment bank 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 next quarterly earnings report in August.
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