Cathie Wood Dumps SpaceX and AMD Stock, Bets Big on Defense

TLDR

• ARK Invest sold SpaceX shares worth about $4.7 million on Thursday, a day after selling even more shares.
• ARK also sold AMD shares worth nearly $14 million, bringing Thursday’s total stock sales to about $18.7 million.
• ARK bought Kratos Defense shares worth $6.7 million, adding to its recent purchases of the stock.
• SpaceX shares fell after regulatory delays in India, but the company later announced a deal for wireless spectrum.
• Kratos Defense stock is down 45% this year despite revenue growth of 30.5% in the second quarter.

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Cathie Wood’s ARK Invest made several stock trades on Thursday, October 8. The firm sold shares in two companies and bought shares in a third.

ARK sold 29,048 shares of SpaceX. The sale was worth about $4.7 million. This came one day after ARK sold 54,873 shares of the same company.

Space Exploration Technologies Corp., SPCX

ARK also sold 22,500 shares of Advanced Micro Devices. That sale was valued at nearly $14 million. Combined, the two sales totaled about $18.7 million for the day.

At the same time, ARK bought 159,918 shares of Kratos Defense. The purchase was worth about $6.7 million.

SpaceX Faces Delays, Then Announces a Deal

SpaceX shares fell more than 4% on Thursday. The drop followed new obstacles for its Starlink internet service in India.

SpaceX has built much of the infrastructure needed to launch Starlink in India. But the company still needs regulatory approvals, including spectrum allocation, before it can begin operations there.

After the market closed Thursday, SpaceX announced a deal to buy wireless spectrum from Grain Management. The spectrum covers the 800 MHz band across the country.

We announced an agreement to acquire a nationwide low-band spectrum license portfolio that will pave the way for @Starlink to become a major mobile carrier in the US.

With this new spectrum and our Gen2 constellation, Starlink Mobile can ensure Americans have access to… pic.twitter.com/uVktZ0g3tu

— SpaceX (@SpaceX) October 8, 2026

The deal could let Starlink Mobile work alongside traditional cell networks. This would let it compete more directly with companies like AT&T, Verizon, and T-Mobile.

The agreement still needs regulatory approval before SpaceX can move forward with it.

Analysts covering SpaceX are mostly positive. Out of 34 analysts, 27 recommend buying the stock, 5 are neutral, and 2 recommend selling.

The average price target for SpaceX is $215.72. That is about 34% above Thursday’s closing price.

AMD Drops on AI Spending Worries

AMD shares fell nearly 4% on Thursday. Other chip stocks also dropped after a report said OpenAI’s revenue was running $20 billion below earlier estimates.

The report raised concerns that AI companies might spend less on chips going forward. Rising bond yields and higher oil prices added to the pressure on tech stocks.

Despite the drop, AMD is still up about 190% so far this year.

AMD continues to land deals with major AI companies. Its partnership with Anthropic includes plans to supply up to two gigawatts of chips starting in 2027. Oracle also plans to use AMD chips in its cloud data centers.

Out of 36 analysts covering AMD, 30 recommend buying the stock. The average price target is $662.38, about 7% above Thursday’s closing price.

Kratos Defense has had a rough year on the stock market. Shares are down 45% in 2026.

Investors have raised concerns about the company’s spending and how long it will take for projects like unmanned aircraft and hypersonic weapons to pay off.

Still, Kratos reported second-quarter revenue growth of 30.5% compared to last year, reaching $458.8 million. The company raised its full-year growth forecast to between 18% and 23%.

Out of 17 analysts covering Kratos, 16 recommend buying the stock. The average price target is $95, suggesting about 126% upside from Thursday’s closing price.