Cathie Wood’s Ark Invest picked up $21.3 million in SpaceX stock amid a 45% decline from its record high.
SpaceX shares debuted in June 2026, with Ark investing $530 million on the first day alone. Since then, the firm has added more than $80 million in shares.
After soaring past $200 post-IPO, SpaceX’s stock tumbled below its initial price of $135, trading near $114.87 by July 27, 2026.
Wood sees SpaceX as more than just a space company. She highlights its Starlink satellite network and orbital data centers as potential AI infrastructure, tapping into a $28.5 trillion market opportunity, over 90% tied to AI.
Morgan Stanley forecasts revenue growth from $18.7 billion in 2025 to $319 billion by 2030 but notes SpaceX remains unprofitable.
Analyst opinions vary widely: the median price target is $243.81, with one bullish call at $800 and a bearish sell rating at $115.
Ark Invest also boosted Tesla holdings by acquiring about 160,000 shares worth $50 million after Tesla’s stock dropped 15% on AI development concerns.
Wood’s AI thesis for Tesla focuses on robotaxis and the Optimus humanoid robot, which she views as a real-world AI model learning from actual data.
Physical AI applications like autonomous vehicles, robotics, and space infrastructure are, in Wood’s view, more promising for long-term value than large language models or cloud services.
SpaceX now represents roughly 4.5% of the Ark Innovation ETF’s assets, with the firm steadily buying throughout the stock’s decline from a roughly $1.9 trillion market cap peak.
