Elon Musk Hypes ‘Very Big Deal,’ but Cathie Wood Hits Sell on SpaceX Along With Meta, AMD and Google — Ark Loads Up on This Defense Stock

On Thursday, Cathie Wood-led Ark Invest sold shares of Space Exploration Technologies Corp. (NASDAQ:SPCX), Meta Platforms Inc. (NASDAQ:META), Advanced Micro Devices Inc. (NASDAQ:AMD) and Alphabet Inc. (NASDAQ:GOOG), while adding to Kratos Defense & Security Solutions Inc. (NASDAQ:KTOS).

The SpaceX Trade

Ark sold 29,048 SpaceX shares through the ARK Next Generation Internet ETF (BATS:ARKW) on Thursday. SpaceX stock ended the day at $160.57, making the transaction worth $4.7 million.

SpaceX announced an agreement Thursday to purchase Grain Management’s nationwide 800 MHz spectrum portfolio for an undisclosed amount, expanding its plans to make Starlink Mobile a major U.S. wireless carrier.

The company said the low-band spectrum would improve signal penetration through walls and other obstacles. Deployment remains subject to final Federal Communications Commission approval.

CEO Elon Musk called the agreement a “very big deal.” Shares of AT&T, Verizon and T-Mobile fell in after-hours trading as investors assessed the potential competitive threat.

The Meta Platforms Trade

Ark sold 19,779 Meta shares through the ARK Innovation ETF (BATS:ARKK). The trade was estimated to be worth $14.3 million as Meta stock ended Thursday at $720.89.

Citi projected that Meta’s Muse personal AI agent could generate more than $27 billion in annual revenue by 2030. Its forecast included about $23 billion from transactions and roughly $4.5 billion from subscriptions.

Muse had surpassed 6.6 million downloads and reached 1.8 million daily active users following its Sept. 8 launch. However, Amazon’s decision to block Muse from its shopping site highlighted potential barriers to the agent’s commerce ambitions.

Meta expects 2026 capital expenditures of $130 billion to $145 billion as it expands its AI infrastructure.

The AMD Trade

Ark sold 22,500 AMD shares through ARKK on Thursday. AMD stock closed at $620.68 for the day, making the transaction worth nearly $14 million.

CEO Lisa Su said earlier this week that AMD planned to substantially increase chip supply in 2027, citing strong AI demand over the coming years.

AMD is working with Foxconn, Taiwan Semiconductor Manufacturing and memory suppliers to secure capacity for CPUs, GPUs, advanced wafers and memory. Su said the company was planning capacity three to five years ahead.

AMD’s data center chief Forrest Norrod also highlighted opportunities for its Venice CPUs as AI agents increase demand for data processing and tool-use workloads.

The Alphabet Trade

Ark sold 25,342 Alphabet Class C shares through ARKK. The sale was worth nearly $8.7 million as the stock closed at $344.86.

Google launched a Gemini agent spanning Gmail, Drive, Docs and Calendar, expanding its push into enterprise AI.

The agent can answer questions, create content and write code, with cost controls, security and governance features aimed at corporate customers. The offering adds to Google’s competition with OpenAI, Anthropic, Microsoft and Amazon for enterprise workloads.

Meanwhile, TD Cowen raised its price target for Alphabet to $485 on Thursday while maintaining a Buy rating.

The Kratos Defense Trade

Ark purchased 159,918 Kratos shares through ARKK on Thursday. The transaction amounted to $6.7 million as Kratos stock closed at $41.93.

In its second-quarter earnings report, released in August, Kratos posted revenue of $458.8 million, exceeding estimates of $410.38 million. Adjusted earnings of 21 cents per share topped expectations of 14 cents.

Revenue increased 30.5% year over year, and the company reported a $2.08 billion backlog alongside a $15 billion bid and proposal pipeline.

Kratos raised its full-year revenue outlook to $1.75 billion–$1.81 billion, from $1.70 billion–$1.76 billion. CEO Eric DeMarco said business momentum was expected to accelerate in the second half of 2026 and into 2027.

Other Key Trades

• Genius Sports Ltd. (GENI): Ark purchased 347,777 shares through ARKF.
• Klarna Group PLC (KLAR): Ark bought 135,914 shares through ARKF.
• DraftKings Inc. (DKNG): Ark sold 106,134 shares through ARKF.
• ARK 21Shares Bitcoin ETF (ARKB): Ark sold 66,454 shares through ARKF.
• Robinhood Markets Inc. (HOOD): Ark sold 202,825 shares through ARKK.
• Shopify Inc. (SHOP): Ark sold 138,032 shares through ARKK.
• Archer Aviation Inc. (ACHR): ARKK, ARKQ and ARKX purchased a combined 148,928 shares.

Benzinga Edge Stock Rankings indicate SpaceX stock checks out on Short, Medium and Long Price Trends.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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