Cathie Wood Just Spent $63 Million on Nvidia — and Dumped AMD the Same Day

TLDR

• ARK Invest bought ~300,000 Nvidia shares worth $63 million on June 1, 2026
• ARK sold ~110,000 AMD shares worth around $56 million the same day
• Nvidia stock rose ~6% after unveiling new AI PC processors at Computex
• AMD dropped as much as 5.5% on fears Nvidia is moving into its market
• Analyst Ivan Feinseth raised his Nvidia price target to $425, implying 92% upside

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Cathie Wood’s ARK Invest made a clear call on Monday, June 1, 2026. She bought Nvidia and sold AMD on the same day.

ARK purchased around 300,000 shares of Nvidia across several of its ETFs. The total value came to roughly $63 million.

NVIDIA Corporation, NVDA

At the same time, ARK sold about 110,000 shares of AMD. That sale was worth approximately $56 million.

Why Nvidia and AMD Moved in Opposite Directions

Nvidia shares climbed around 6% on Monday. The jump came after the company unveiled a new line of AI-focused PC processors at the Computex tech conference.

AMD shares fell. At one point during the session, AMD was down as much as 5.5%, before closing down about 1%.

The concern for AMD investors is straightforward. Nvidia appears to be moving into PC chip territory, which is an area where AMD has been a key player.

A Change in Stance for Cathie Wood

Wood’s Nvidia buy is worth paying attention to for another reason. She was once one of Nvidia’s most vocal critics.

In past years, Wood argued that Nvidia’s valuation was too high. She believed the long-term AI winners would be companies using AI, not the chipmakers building it.

She even said that “AI now has to play out elsewhere for Nvidia’s valuation to make sense.” She also warned that custom AI chips from big tech companies could chip away at Nvidia’s lead.

Monday’s trades suggest her view has changed.

ARK also bought 62,669 shares of Cerebras Systems, worth around $14.85 million. This follows a string of Cerebras purchases over the past week, showing ARK’s ongoing interest in AI chip companies.

ARK also sold 23,584 shares of Teradyne, worth about $8.83 million. This continues a recent pattern of ARK reducing its Teradyne position.

What Analysts Are Saying

Tigress Financial analyst Ivan Feinseth raised his Nvidia price target from $360 to $425. He kept a Strong Buy rating on the stock. The new target implies around 92% upside from current levels.

Feinseth described Nvidia as “the must-own core holding for the AI investment cycle.” He pointed to its Blackwell GPUs, networking tech, and CUDA software stack as key advantages.

Nvidia carries a Strong Buy consensus rating from 40 analysts. That includes 38 Buy ratings, one Hold, and one Sell. The average 12-month price target is $309.86, roughly 38% above recent prices.

AMD also holds a Strong Buy consensus from 35 analysts, with 27 Buys and 8 Holds. Its average price target is $477.33, which is actually about 6% below where the stock recently traded.