Cathie Wood and Ark Invest purchased over $51 million in Space Exploration Technologies shares during a single week of trading.
Cathie Wood and her investment firm, Ark Invest, aggressively expanded their holdings in Space Exploration Technologies (SpaceX) last week, purchasing over $51 million in shares. The firm distributed these new acquisitions across four primary exchange-traded funds, including the Ark Innovation ETF and the Ark Autonomous Tech & Robotics ETF. Ark Invest has maintained a long-term commitment to the Elon Musk-led company, accumulating shares even before the recent Nasdaq debut. While the firm shows high conviction in SpaceX's diverse portfolio—which includes artificial intelligence, satellite communications, and the social media platform X—the company's financial performance varies by sector. The Starlink satellite business reported an operating profit of $4.4 billion last year, while the AI unit recorded a significant loss of nearly $6.4 billion. Despite these varying results, Wood continues to favor the company's forward-looking technology. Analysts suggest that while Ark Invest remains bullish, investors should weigh the high costs of the AI and space units against the current profitability of the connectivity division.