Key Points
Cathie Wood’s Ark Invest has increased its stake in Space Exploration Technologies (NASDAQ: SPCX), acquiring 200,000 shares valued at approximately $27 million. This purchase follows a recent market correction, yet SPCX remains above its IPO price of $135.
SpaceX is now Ark Invest’s second-largest holding, totaling about $680 million, following Tesla, which is valued at nearly $1 billion. Ark’s investment thesis is heavily tied to anticipated advancements in artificial intelligence (AI) and their expected impact on both SpaceX’s revenue from ventures like Starlink and Tesla’s future in autonomous vehicles.
According to Ark Invest, SpaceX could generate approximately $300 billion annually by 2035, largely based on AI-driven opportunities, as more than 90% of its $28.5 trillion addressable market consists of AI-related prospects.
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