Cathie Wood’s ARK Invest made some substantial changes to its portfolio on Tuesday, September 29, 2026. The investment firm reportedly purchased $81 million worth of Nvidia (NVDA) stock, while selling about $110 million worth of AMD shares. Let’s discuss why ARK Invest may have decided to reshuffle its portfolio.

Why Did Ark Invest Sell AMD And Purchase More Nvidia Stock?

AMD vs Nvidia stock
Source: Tom’s Hardware

According to reports, ARK bought 356,681 shares of Nvidia (NVDA) across four of its ETFs (Exchange Traded Funds). The purchase comes on the heels of Nvidia’s board expanding its share-repurchase authorization by $150 billion. The move brought the capacity to a total of $235 billion through fiscal 2028. Many analysts are viewing the expansion as a vote of confidence from the board.

While ARK increased its Nvidia (NVDA) exposure, it has drastically reduced its Advanced Micro Devices, Inc (AMD) holdings. The investment firm sold 181,767 shares of AMD across four ETFs.

Nvidia’s (NVDA) stock value has risen by about 22% in 2026. AMD, on the other hand, has risen by about 184% in the same time frame. It is possible that ARK is booking its AMD profits, while expecting Nvidia to deliver bigger gains for the rest of the year.

Also Read: Wells Fargo, Bank Of America Raise AMD Stock Price Target

Both Nvidia (NVDA) and AMD have been among the biggest gainers of the AI boom. Nvidia (NVDA) is the clear market leader, with its market cap hitting an all-time high of $5.56 trillion in September 2026. AMD also saw incredible gains last month, with stock price hitting a peak of $615.52, with its market cap finally breaching the $1 trillion.

Nvidia (NVDA) and AMD are expected to continue its upswing, with Wall Street analysts growing increasingly bullish on both companies. However, many analysts worry about a potential AI bubble, the bursting of which could have severe consequences for the stock market.

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