Harvard Cut Nvidia by a Third and Bought AMD Omor Ibne Ehsan Sat, November 14, 2026 at 9:38 AM EST 5 min read AMD -10.95% NVDA -3.12% TSM -2.71% MSFT -0.18% GOOG -1.54% Explore stocks on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
Harvard slashed Nvidia by 34% and opened a $199 million AMD stake, a swap that has fallen less since September.
Harvard boosted Taiwan Semiconductor by 85% while cutting Microsoft by 41%, signaling a shift within AI hardware rather than an exit.
AMD's 97% data center surge fuels its growth case, but a trailing P/E of 202 makes valuation the main risk.
The biggest 401k decisions tend to get made once and never revisited: when to roll it over, what to hold inside it, and when to start taking money out. That is exactly what the report: 401k & IRA Tips and Answers was created to address, and it is free today. Read more here. (Sponsor)
Harvard Management Company went into October holding less Nvidia (NASDAQ:NVDA) and a new stake in Advanced Micro Devices (NASDAQ:AMD). Its third-quarter 13F, filed Friday, shows 324,400 AMD shares worth $198.5 million as of September 30. Harvard reported no AMD shares at the end of June.
The endowment's manager also cut Nvidia by 34.3% to 517,551 shares in its 13F portfolio. AMD now makes up 5.0% of reported holdings, compared with 3.0% for Nvidia.
Nvidia closed Friday at $162.85, which is 28.7% below its September 30 close. The drop came after a week in which its board reportedly weighed removing longtime CEO Jensen Huang. AMD closed at $534.06, 12.7% below its own September 30 close, so the new mix has held up better than the old one would have.
By our calculation, Harvard's AMD shares would be worth about $173.2 million at Friday's prices and its remaining Nvidia shares about $84.3 million, assuming it still holds them. The filing does not show when Harvard traded or at what prices.
For many Americans, funding a 401(k) only leads to more retirement questions. Should you roll your 401k into an IRA, and when? What's the tax impact if the rollover check gets made out to the wrong name? When do required withdrawals begin, and how much do you have to take?
Fisher Investments put the answers in one place. 401k & IRA Tips and Answers is free, and it covers rollovers, contribution limits, required withdrawals, and what actually belongs inside the account once the balance gets serious. Read More Here ›
Harvard raised its Taiwan Semiconductor (NYSE:TSM) ADRs by 85% to a stake worth $616.5 million. Taiwan Semiconductor makes chips for both Nvidia and AMD, so the moves look like a shift within AI hardware.
Two cloud providers took deeper cuts than Nvidia. Harvard trimmed Microsoft (NASDAQ:MSFT) by 41% to $118.7 million. That leaves AMD as the larger holding, and Harvard cut its Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) Class A shares by 62%.
Last quarter, data center sales at AMD rose 97% to $8.546 billion as Anthropic, Meta, Microsoft, OpenAI and Oracle brought their first Helios racks online. Management expects 2027 revenue to grow more than 80%.
Nvidia recorded $89.023 billion of data center revenue in its latest quarter at a 75.0% non-GAAP gross margin, and it expects fiscal 2028 growth of approximately 70%. AMD is valued at $875.90 billion and Nvidia at $3.93 trillion, so each new customer adds more to AMD's growth rate.
Nvidia is expected to report after the close on Tuesday, November 17, although the company has not confirmed the date. It guided to $108.0 billion in revenue with gross margins near 74.0%.
If Nvidia hits that guidance and keeps Vera Rubin on schedule, the selloff likely went too far. Demand looks like the smaller concern, because the CFO called guidance "a supply-constrained outlook" in August.
AMD's demand outlook supports a strong growth case. Data center should account for more than 80% of 2027 revenue, and CEO Lisa Su said, "demand is higher than supply."
The main risk is valuation. AMD trades at a trailing P/E of 202x, compared with 33 for Nvidia, and free cash flow was just $554 million as inventory rose to $11.463 billion.
AMD's own results carry more weight for investors than Harvard's filing. The 13F shows holdings at September 30 and covers less than 6% of a $68 billion endowment. Harvard has not explained the trades.
If AMD's valuation looks too high, Taiwan Semiconductor is worth exploring as an alternative, since it makes revenue from both chip designers, no matter which one gains share. The power, cooling, and networking suppliers behind the AI data center expansion are another way to play the same demand without paying a chip multiple, and we rounded up seven of them in a free report you can grab here.
(sponsor) 401(k)s are powerful retirement tools. But even savvy savers can make mistakes that quietly cost you money for decades. Choosing the wrong fund, ignoring small fees nobody adds up, rollover steps done in the wrong order, the list goes on.
These sort of mistakes is exactly what 401k & IRA Tips and Answers was created to help prevent. It is a free guide from Fisher Investments on rollovers, contributions, required withdrawals and the mistakes that do the most damage to a retirement account. Learn More Here ›
Contact editorial@247wallst.com for any questions or corrections.
