Tiger Global Management cut its stakes in several large-cap technology names and added a position in Advanced Micro Devices during the second quarter, according to a Form 13F filing with the SEC on August 14, 2026. The hedge fund sold roughly $1.72 billion in Alphabet shares and reduced holdings in Amazon, Meta, and Nvidia, while shifting capital toward AI chip and payment companies.
The filing shows Tiger Global's pivot from established tech giants to emerging players in AI infrastructure. For AMD, the move arrives at a moment when valuation metrics suggest the stock is trading far above its intrinsic worth.
AMD's valuation signals a premium price
GuruFocus data values AMD at a GF Value™ of $269.40, while the stock trades at $514.39 - a 90.9% overvaluation. The company's trailing twelve-month price-to-earnings ratio of 132.23x also sits well above its five-year median of 100.87x.
The gap between price and intrinsic value means new investors have little margin of safety. AMD's market capitalization stands at roughly $839.73 billion, and the company designs digital semiconductors for PCs, gaming consoles, and data centers, including AI applications.
Financial strength versus valuation
AMD's GF Score™ of 81 out of 100 reflects solid fundamentals. The company earns 10/10 for growth, 9/10 for financial strength, and 8/10 for profitability. Its valuation score is 1/10, and momentum comes in at 6/10.
The high growth and financial strength scores point to a company with strong execution. But the low valuation score is a red flag for investors focused on entry price.
What insiders and institutional investors are doing
Insider activity at AMD has been one-sided. There has been no insider buying over the past three months, while insiders sold $80.7 million in shares. That selling could signal a lack of confidence in near-term performance.
Institutional investors show a more mixed picture. Twenty-eight gurus hold AMD stock, with 15 adding to positions and 14 trimming holdings in recent quarters.
For managers evaluating AI-related investments, the Tiger Global filing and AMD's valuation data offer a useful case study. The company's growth metrics are strong, but the stock's price already reflects aggressive expectations. Insider selling and a 90.9% premium to GF Value™ suggest waiting for a better entry point may be prudent. Professionals looking to sharpen their approach to evaluating AI investments can explore AI for Finance Courses or a targeted AI Learning Path for Finance Managers to build the analytical framework for these decisions.
Your membership also unlocks:
