Cathie Wood’s ARK Sells AMD, Pivots to Amazon and Defense Sector

Key Facts

1Cathie Wood's ARK Invest sold a significant portion of AMD shares totaling over $16 million.

2The fund directed new investments into L3Harris, Amazon, Archer Aviation, and Joby Aviation.

Cathie Wood’s ARK Invest has rebalanced its portfolio by selling a significant portion of AMD shares totaling over $16 million. According to reports, the fund redirected these proceeds into new investments including Amazon and the defense firm L3Harris. The strategic shift also saw ARK expanding its footprint in the aviation sector through positions in Archer Aviation and Joby Aviation.

This move comes amid mixed performance in tech stocks, as Wood seeks to diversify assets away from heavy semiconductor exposure. Looking at peers, market data shows relative stability in the e-commerce and defense sectors compared to the volatility seen in chipmakers. Amazon (AMZN) remains a core holding for major funds seeking sustainable growth under current market conditions.

Per market data, AMD and AMZN shares closed at their respective levels on May 18, 2026, ahead of the current week's sessions. Investors are closely monitoring the impact of these divestments on sector sentiment, especially with upcoming catalysts such as the U.S. Consumer Price Index (CPI) report, which could influence risk appetite for growth and tech stocks in the coming days.