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Cathie Wood continues to increase investment in SpaceX as Ark Invest maintains a strong conviction in Tesla's robotaxi future.

Cathie Wood, the head of ARK Invest, recently increased her firm's exposure to space-related technologies by purchasing over 200,000 shares of SpaceX worth nearly $27 million. This move follows a period of which the administration announced the firm's significant reductions in software and technology holdings while increasing exposure to AI infrastructure, biotechnology, and fintech. Despite Tesla's stock performing as the worst-performing member of the "Magnificent Seven" in 2026, Cathie Wood remains committed to the company. ARK Invest holds approximately $1.16 billion in Tesla shares, betting that the company will transition from a car manufacturer to a leader in autonomous transportation. The firm's valuation model predicts a $2,600 per share price target for 2029, which relies heavily on the success of the robotaxi business. While Tesla's recent earnings missed consensus estimates, Cathie Wood's continued buying during price declines demonstrates a confidence in Tesla's long-term growth potential beyond just electric vehicles.

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