In a mandatory quarterly disclosure filed in mid-August, Whale Rock Capital revealed it had significantly reduced its NVIDIA position during the second quarter ending June 30, 2026. The major technology-focused hedge fund sold over 660,000 shares, cutting its stake by nearly 64% to 377,200 shares. The estimated value of the shares sold is around $133 million. These 13F filings disclose positions held nearly two months prior, so they do not reflect current trading activity.
Interestingly, the sale does not appear to represent a bearish turn on the entire AI semiconductor space. During the same Q2 period, Whale Rock substantially increased its investment in NVIDIA-rival AMD. This suggests the move was likely a rotation to manage position concentration or a relative value trade within the sector rather than an outright exit from the AI hardware theme.