News Summary
PositiveAMD delivered strong Q2 2026 earnings with aggressive Q3 guidance of ~$13B revenue (+41% YoY), driven by surging data center/AI chip demand and major partnerships (Oracle deploying 50K MI450 GPUs). Regulatory tailwinds from eased China export restrictions on MI325X/MI308 chips and 82% analyst buy consensus support positive momentum, though recent mid-August downgrades signal emerging valuation concerns.
Red flags
- •Mid-August analyst downgrades cited valuation headwinds despite strong fundamentals
- •Q3 guidance ($13B) significantly exceeds prior analyst consensus (~$11.34B), raising execution risk
- •China export licensing remains subject to case-by-case review and 25% tariffs; policy reversals possible
Funds Buying (7)
| Fund | Manager | Shares Held | ∆ Shares | Position Value | % of Fund | QoQ | Status |
|---|---|---|---|---|---|---|---|
| Whale Rock Capital | Alex Sacerdote | 1.5M | +1.4M | $877M | 7.0% | >+999% | Existing |
| Maverick Capital | Lee Ainslie | 976K | +300K | $567M | 5.1% | +44% | Existing |
| Dragoneer | Marc Stad | 944K | +944K | $548M | 19.3% | — | NEW |
| Tiger Global | Chase Coleman | 675K | +675K | $392M | 1.6% | — | NEW |
| Coatue Management | Philippe Laffont | 96K | +96K | $56M | 0.1% | — | NEW |
| Duquesne Family Office | Stanley Druckenmiller | 73K | +73K | $42M | 1.0% | — | NEW |
| Soros Fund Management | Soros Family Office | 51K | +16K | $29M | 0.4% | +47% | Existing |
Shares Held and Position Value reflect total quarter-end holdings. ∆ Shares is the change from the prior quarter. % of Fund is the position's share of the fund's reported equity portfolio — it drives the size weighting in the conviction score.
Portfolio Context
Where AMD ranks in each buying fund's book, and the positions immediately around it. What a holding sits next to often says more about the thesis than the position size does.
position #2 of this fund's book
- 1NVIDIA CORPORATION$612M
- 2ADVANCED MICRO DEVICES INC$567M
- 3ASTERA LABS INC$515M
- 4INTEL CORP$512M
- 5ALPHABET INC$510M
position #2 of this fund's book
- 1SPACE EXPLORATION TECHN CORP$1,367M
- 2ADVANCED MICRO DEVICES INC$548M
- 3AMAZON COM INC$303M
- 4INNIO NV$113M
- 5KLARNA GROUP PLC$98M
position #2 of this fund's book
- 1SANDISK CORP$1,356M
- 2ADVANCED MICRO DEVICES INC$877M
- 3ALPHABET INC$856M
- 4TTM TECHNOLOGIES INC$791M
- 5ASTERA LABS INC$757M
position #19 of this fund's book
- 16SPOTIFY TECHNOLOGY S A$538M
- 17TAKE-TWO INTERACTIVE SOFTWAR$452M
- 18REDDIT INC$439M
- 19ADVANCED MICRO DEVICES INC$392M
- 20BLOCK INC$348M
- 21APOLLO GLOBAL MGMT INC$322M
- 22SEAGATE TECHNOLOGY HLDNGS PL$275M
position #24 of this fund's book
- 21Fluor Corp$51M
- 22D R Horton Inc$49M
- 23Coupang Inc$46M
- 24Advanced Micro Devices Inc$42M
- 25Palo Alto Networks Inc$40M
- 26Cleveland-Cliffs Inc New$40M
- 27Hut 8 Corp$36M
Values are quarter-end position sizes. Shown only for funds where AMD ranks inside their 40 largest equity positions — below that, neighbouring names carry no signal. Adjacency is an inference about a fund's reasoning, not a disclosure of it.
Signal History
| Quarter | Direction | Funds | Score | vs SPY |
|---|---|---|---|---|
| Q2 2026 | LONG | 7 | 9.87 | -21.3% |
| Q1 2026 | LONG | 5 | 5.56 | +133.2% |
Same issuer appearing in consecutive quarters — persistent institutional conviction. Returns are frozen at each archived quarter's last refresh.
Insider Activity
| Name | Title | Type | Shares | Price | Value | Filed | Src |
|---|---|---|---|---|---|---|---|
| Su Lisa T | Chair, President & CEO | SELL | 700 | $475.90 | $0.33M | 2026-08-18 | ↗ |
| Su Lisa T | Chair, President & CEO | SELL | 1K | $477.35 | $0.53M | 2026-08-18 | ↗ |
| Su Lisa T | Chair, President & CEO | SELL | 3K | $478.41 | $1.20M | 2026-08-18 | ↗ |
| Su Lisa T | Chair, President & CEO | SELL | 3K | $479.45 | $1.53M | 2026-08-18 | ↗ |
| Su Lisa T | Chair, President & CEO | SELL | 2K | $480.36 | $0.91M | 2026-08-18 | ↗ |
| Su Lisa T | Chair, President & CEO | SELL | 2K | $481.42 | $0.72M | 2026-08-18 | ↗ |
| Su Lisa T | Chair, President & CEO | SELL | 800 | $482.31 | $0.39M | 2026-08-18 | ↗ |
| Su Lisa T | Chair, President & CEO | SELL | 900 | $483.60 | $0.44M | 2026-08-18 | ↗ |
| Su Lisa T | Chair, President & CEO | SELL | 499 | $484.71 | $0.24M | 2026-08-18 | ↗ |
| Su Lisa T | Chair, President & CEO | SELL | 700 | $485.94 | $0.34M | 2026-08-18 | ↗ |
| Su Lisa T | Chair, President & CEO | SELL | 196 | $487.38 | $0.10M | 2026-08-18 | ↗ |
| Su Lisa T | Chair, President & CEO | SELL | 504 | $489.03 | $0.25M | 2026-08-18 | ↗ |
| Su Lisa T | Chair, President & CEO | SELL | 500 | $490.36 | $0.25M | 2026-08-18 | ↗ |
| Hahn Ava | SVP, GC & Corporate Secretary | SELL | 3K | $488.69 | $1.46M | 2026-08-18 | ↗ |
| GRASBY PAUL DARREN | EVP & CSO | SELL | 15K | $514.91 | $7.72M | 2026-08-17 | ↗ |
| Papermaster Mark D | Chief Technology Officer & EVP | SELL | 7K | $487.34 | $3.59M | 2026-08-14 | ↗ |
| Hahn Ava | SVP, GC & Corporate Secretary | SELL | 143 | $474.75 | $0.07M | 2026-08-11 | ↗ |
| Papermaster Mark D | Chief Technology Officer & EVP | SELL | 6K | $556.43 | $3.34M | 2026-07-15 | ↗ |
Beneficial Ownership (13D/13G)
| Filer | Form | Shares | % of Class | Filed | Src |
|---|---|---|---|---|---|
| Vanguard Capital Management | SC 13G | 122.1M | 7.5% | 2026-04-29 | ↗ |
SC 13D = active intent to influence control (10-day filing deadline after crossing 5%). SC 13G = passive accumulation, no intent to influence control.
Congressional Trading
| Member | Chamber | State | Type | Amount Range | Transaction Date | Filed | Src |
|---|---|---|---|---|---|---|---|
| Gilbert Cisneros | house | CA31 | BUY | $1,001 - $15,000 | 2026-06-05 | 2026-07-02 | ↗ |
| Alan Armstrong | senate | — | BUY | $15,001 - $50,000 | 2026-03-27 | 2026-07-21 | ↗ |
Periodic Transaction Reports filed under the STOCK Act. Amounts are disclosed as ranges, not exact dollar figures.