Cathie Wood Trims AMD, Rotates Into Broadcom and Cerebras
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ARK Invest has trimmed its AMD position while adding Broadcom and AI-chip startup Cerebras Systems — a signal that AMD is losing priority in Wood's AI-chip playbook.
What did Cathie Wood actually do?
ARK reduced its stake in AMD and added positions in Broadcom and Cerebras Systems.
Both Broadcom and Cerebras are direct competitors to AMD in the chip space.
This means → Wood isn't exiting AI chips; she's swapping which horse she backs inside the race.
Why is AMD being demoted?
Per *Barron's*, AMD is gradually losing priority in Wood's AI-chip portfolio.
In plain terms = Wood now sees better odds in Broadcom and Cerebras than in AMD for the same AI-chip thesis.
This reflects a market shift away from the simple "Nvidia vs AMD" framing toward a more fragmented competitive map.
What makes the two new picks interesting?
Broadcom: an established giant whose custom-chip (ASIC) business serves hyperscale cloud clients — high revenue certainty.
Cerebras Systems: an AI-chip startup building wafer-scale chips — a differentiated, high-upside bet.
This means → Wood's new portfolio spans both "certainty" and "optionality," while AMD is seen as stuck in the middle, offering neither.
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