Cathie Wood’s ARK Dumped $10M in AMD to Load Up on Palantir — Here’s Why

TLDR

• ARK Invest bought 85,485 Palantir shares worth ~$11.15M across multiple ETFs
• ARK sold 44,446 AMD shares worth ~$10.52M, reducing chip exposure
• Palantir stock dropped ~2% Friday after a 7% plunge Thursday
• Michael Burry warned Palantir is in “bubble” territory, citing Anthropic’s growth
• Wedbush’s Daniel Ives dismissed Burry’s view, maintaining a Buy rating and $230 price target

Cathie Wood’s ARK Invest made two large portfolio moves on April 10 and 11, 2026. ARK bought Palantir shares and sold Advanced Micro Devices stock, according to the firm’s daily fund disclosures.

ARK purchased 85,485 shares of Palantir, worth approximately $11.15 million. The shares were spread across five funds: ARKK took 46,455 shares, ARKQ took 15,127, ARKW took 11,865, ARKF took 5,973, and ARKX took 6,065.

Palantir Technologies Inc., PLTR

At the same time, ARK sold 44,446 shares of Advanced Micro Devices, totaling around $10.52 million. Those shares were also distributed across the same five funds.

The moves suggest ARK is shifting focus from chip hardware toward AI software platforms.

Palantir Under Pressure

Palantir’s stock had a rough week heading into the purchase. It fell roughly 2% on Friday after dropping 7% the day before.

Part of that sell-off followed a warning from Michael Burry, known as the “Big Short” investor. Burry posted on X that Palantir’s valuation has reached “bubble” territory.

Burry argued that Anthropic, the AI startup, is taking business from Palantir with its new “Mythos” model and fast growth. Cathie Wood used the dip as a buying opportunity.

ARK also sold 75,389 shares of Strata Critical Medical for $305,325, continuing a trend of offloading that stock over the past week.

Analysts Are Divided

Not everyone agrees with Burry’s assessment. Wedbush analyst Daniel Ives called Burry’s take a “fictional narrative.”

Ives kept his Buy rating on Palantir with a price target of $230. He pointed to Palantir’s 137% growth in U.S. Commercial revenue as evidence that its competitive position holds firm.

Benchmark analyst Yi Fu Lee is more cautious. Lee argues that Palantir’s high valuation means the company must keep executing well to justify its stock price.

The Wall Street consensus on Palantir sits at a Moderate Buy. That is based on 14 Buy ratings, 5 Holds, and 2 Sells.

The average price target following recent volatility is $194.61, which would represent about 52% upside from Friday’s closing price.

Advanced Micro Devices shares rose 3.55% on the same day ARK sold its position.

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