New York, February 20, 2026, 18:13 EST — After-hours.
- AMD dropped roughly 1.6%, trading near $200 after hours, trailing behind stronger gains from other chipmakers.
- CFO Jean Hu unloaded about 20,000 shares, according to a filing, cashing out after stock awards vested and in line with a preset trading plan.
- Nvidia’s results on Feb. 25 are up next, with traders eyeing the numbers for clues on AI-chip demand.
Shares of Advanced Micro Devices (AMD.O) slipped roughly 1.6% to $200.15 in Friday’s after-hours session, having touched $198.64 at the intraday low. Nvidia (NVDA.O) climbed around 1%, and the iShares Semiconductor ETF also tacked on about 1%, putting AMD at a disadvantage heading into the weekend.
This is notable: AMD is perched on a key price area that traders track, and lately, the stock has jumped at any whiff of changing sentiment about AI budgets. Nvidia’s results are due next week, putting the entire AI-chip group in the spotlight again. Even news that’s purely about AMD can send it moving in lockstep with the sector.
According to a filing, CFO Jean Hu unloaded 19,956 shares of AMD on Feb. 17, bringing in roughly $4.0 million. The trades went through at weighted-average prices clustered near $200 each. The Form 4 points out these sales fell under a Rule 10b5-1 plan put in place on Aug. 22, 2025, after 30,788 restricted stock units vested. Of those, 11,416 shares ended up withheld for taxes, the document noted.
A 10b5-1 plan sets up trades for executives in advance, letting them buy or sell shares on a fixed timetable to help avoid claims of acting on private information. Still, when a stock’s moving around, headlines can just look like “insider selling” to investors.
AMD this week revealed fresh details on executive pay, outlining a one-time, $75 million performance equity award for CEO Lisa Su, slated for grant on March 15. According to the company, the payout hinges on stock-price milestones set through March 15, 2031—ranging anywhere from 0% up to 200% of the targeted units. The filing highlighted a $600 per share top hurdle.
AMD put out first-quarter revenue guidance at roughly $9.8 billion, give or take $300 million. That figure factors in approximately $100 million in Instinct MI308 sales tied to China. The company sees non-GAAP gross margin landing near 55%.
Shares of AMD slid sharply earlier this month, with its outlook sparking fresh skepticism about the pace of its catch-up with Nvidia in data-center AI chips. The company insists demand is solid.
The spotlight swings to Nvidia again, with its earnings serving as a barometer for the wider AI rollout. “It’s hard for Nvidia to surprise when everyone expects it to surprise,” said Marta Norton, chief investment strategist at Empower. Reuters
For those holding AMD, it’s not just about this quarter. What matters most is what Nvidia reveals on capacity, on customer budgets, on how fast orders are coming in for new-generation systems. If big tech shows any hint of hitting the brakes on capital outlays, rival chipmakers tend to feel it fast.
Another risk is more straightforward: headlines about insider sales can linger even after the trades—often pre-scheduled—are done. Should Nvidia’s outlook fall short, that could spell trouble for AMD, which might face renewed scrutiny over executive stock sales and sector softness heading into next week.
All eyes are on Nvidia’s earnings and conference call, scheduled for after the bell on Wednesday, Feb. 25. Investors will be digging into guidance and executive commentary to gauge what’s ahead for AI-chip demand.
