AMD faces ARK trimming ahead of Helios ramp

AMD has seen Cathie Wood of ARK Invest trim her position following a sharp rally. The stock closed at $521.10 on September 9, 2026, marking a gain of 143.32% year to date and 234.42% over the trailing year. As of April 30, 2026, AMD was the third-largest holding in the ARKK fund at 5.18% of net assets.

The sales come ahead of the launch for the MI450 accelerator and the ramp of Helios, an integrated rack system that bundles EPYC Venice processors, MI450 graphics chips, Pensando networking, and Rackham software. Major customers have committed to 14 gigawatts of deployments: Anthropic agreed to up to 2 gigawatts, OpenAI took 6 gigawatts, and Meta signed for up to 6 gigawatts using a custom MI450-based part.

For the second quarter of 2026, AMD generated $11.5 billion in revenue, up 50% year over year. Data Center sales surged 107% to $6.72 billion, and non-GAAP earnings reached $1.66 per share. Chief Executive Officer Lisa Su said the company is in the early stages of a multi-year artificial intelligence adoption cycle, noting that customer demand is running ahead of initial forecasts. Management guided third-quarter revenue to approximately $13 billion, plus or minus $300 million, and expects data center AI revenue to grow well over 100% in 2027.

AMD shares currently trade at a forward price-to-earnings ratio of 30 and a price-to-earnings-to-growth ratio of 0.486. Wall Street maintains a consensus target price of $615.38 on the stock, with 4 strong buys, 39 buys, 11 holds, and zero sell ratings.