On October 15, Executive Vice President (EVP) Forrest Norrod became responsible for the first Advanced Micro Devices (NASDAQ: AMD ) stock insider sale of the month.
Specifically, an October 19 disclosure with the Securities and Exchange Commission (SEC) showed that the EVP dumped 17,262 AMD shares at an average price of $540.7 for a total of $9.33 million.
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Notably, this represented Norrod’s second consecutive insider sale executed exactly in the middle of the month. He also offloaded 17,261 shares on September 15, raising just under $8.7 million.
He also traded AMD stock on August 24, when his 17,261 shares netted $7.9 million.
Furthermore, these three sales appear to be a part of the recent wave of big tech insider trades that started approximately three months ago with Jeff Bezos’ $346 million Amazon (NASDAQ: AMZN ) stock sale.
Indeed, Norrod’s fourth most recent such equity market move took place in May.
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Are big stock insiders selling and mass ahead of AI bubble burst?
Elsewhere, while corporate insider trading tends to be a poor gauge of the state of a company due to strict reporting requirements, both the activity related to AMD and the wider sector trend coincided with multiple concerning developments .
Recent weeks brought renewed concerns about the sustainability of the artificial intelligence ( AI ) boom as financial documents of OpenAI and Anthropic obtained by various journalists showed explosive spending . The latter of the two, for example, recorded an $80 billion loss in the first half of 2026, per a Reuters report from October 20.
Similarly, Oracle (NYSE: ORCL ) – a company heavily involved with AI infrastructure – issued a force majeure notice late in September for its New Mexico project and, in mid-October, Microsoft (NASDAQ: MSFT ) pulled out of a major data center project in England.
Meanwhile, Amazon was revealed to have purchased more GPUs than it can install, allegedly due to a lack of electricity, and has no clear timeline for when it can put the expensive hardware into service.
The development came weeks after a prominent AI skeptic, Ed Zitron, published his estimate that as much as 50% of the GPUs Microsoft purchased remain unplugged and in warehouses.
Crucially, even the extended estimate of the useful life of such equipment is no higher than six years, raising questions of whether Nvidia (NASDAQ: NVDA ) can sustain its revenue growth.
Is Nvidia trying to suppress AMD chip sales?
Finally, Nvidia itself appears to have been vicariously targeting its competitors – most notably Intel (NASDAQ: INTC ) and AMD – as it had allegedly barred neoclouds that purchased chips from other companies from entering the GTC Berlin conference.
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Under the circumstances, Advanced Micro Devices appears at risk both due to the rising headwinds facing the entire AI sector and from the alleged aggressive activities of its larger peer in the semiconductor industry.
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