Cathie Wood Just Dumped $134 Million of Broadcom and Bought Nvidia and SpaceX
The market's ugliest session in years pushed ARK to rotate a huge chunk of its AI bet, and Broadcom's numbers look nothing like its stock chart. What does Cathie Wood's team see in the other two names that it no…
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On Thursday, November 5, 2026, the Nasdaq 100 had its worst session since March 2020. That day, Cathie Wood’s ARK Invest sold 410,559 shares of Broadcom (NASDAQ:AVGO | AVGO Price Prediction). At Broadcom’s Wednesday close of $325.48, the block was worth $133,628,743.
ARK’s funds bought 252,592 shares of NVIDIA (NASDAQ:NVDA) and 393,774 shares of SpaceX (NASDAQ:SPCX) in the same drop. Broadcom fell 10.43% to $291.53, which left it just above its 52-week low of $289.96.
NVIDIA fell 9.26% to $181.60, and SpaceX fell 9.05% to $123.62. By 7:59 p.m. ET, Broadcom had recovered to $297.14 in after-hours trading, up 1.92%.
What ARK Disclosed and What It Withheld
ARK releases its trades daily as share counts and does not release the prices it paid or received. At Thursday’s prices, the Broadcom sale comes to about $119.7 million. The majority of the sale, $103.9 million, came from the ARK Innovation ETF (NYSEARCA:ARKK).
Going into Thursday, that fund held 358,186 Broadcom shares, or 1.91% of its assets. It sold about 356,000 of them. That nearly drains the flagship’s Broadcom position, but ARK has not exited the stock completely. ARK gave no reason for the trades, so the explanations below are analysis.
Where ARK Moved Its AI Money
The value of the buys depends on which day’s price you use. They come to $46 million to $51 million of Nvidia and $49 million to $54 million of SpaceX, or roughly $100 million combined. ARK had also added about $47.3 million of SpaceX on Wednesday.
The trades move money away from Broadcom’s custom accelerators (chips built for one customer) and toward general-purpose GPUs and a company that owns its own AI platform. SpaceX’s Super Intelligence unit increased revenue 830% last quarter. It is also an Nvidia customer: SpaceXAI plans to use Nvidia Vera CPUs.
Broadcom’s Fundamentals vs. Its Share Price
The sale is small for a company worth about $1.41 trillion. In Broadcom’s fiscal third quarter, revenue rose 85.5% to $29.59 billion, and AI semiconductor revenue rose 221%.
For the fourth quarter, management guided revenue to about $34.80 billion and AI semiconductor revenue to $21.70 billion. The stock is still far below its 52-week high of $495.00.
The selloff followed speculation that the newly elected Democratic Congress will clamp down on the AI industry. That risk applies to Nvidia and SpaceX as much as to Broadcom. SpaceX’s five-year credit default swaps (the cost of insuring its debt) widened to a new peak the same day.
Nvidia Reports Before Broadcom
Nvidia is expected to report after the close on Tuesday, November 17. It has guided to $108.0 billion in revenue, plus or minus 2%, after a $96.22 billion quarter.
A strong Nvidia report would support ARK’s timing. Broadcom is expected to report on Thursday, December 10.
What Investors Should Watch in Broadcom Stock Now
A company guiding to 236% AI revenue growth is being priced as if new AI rules were already law, but none have been proposed yet.
Nvidia offers an earlier test of AI demand, because its report comes first. Even so, Broadcom’s custom-chip work with the big cloud companies gives it a source of demand that does not depend on GPU orders (we reverse-engineered what the biggest tech winners looked like early and put the pattern in a free playbook here: The Next Nvidia Playbook).
This analysis would be wrong if Broadcom closes below $289.96 before December 10, or if its fourth-quarter AI revenue comes in short of $21.70 billion.
Contact [email protected] for any questions or corrections.
Omor Ibne Ehsan is a writer at 24/7 Wall St. He is a self-taught investor with a focus on growth, cyclical, and dividend equities that have strong fundamentals, value, and long-term potential. He also has an interest in high-risk, high-reward investments such as penny stocks.
