TLDR
- Ark Invest acquired $21.3 million worth of SpaceX shares during a 45% decline from peak levels
- During a July 22, 2026 Fox Business interview, Wood identified Tesla and SpaceX as her leading AI investment choices
- The investment firm initially committed approximately $530 million to SpaceX during its June 2026 public offering
- Analysts’ consensus price target for SpaceX stands at $243.81, representing potential 111% gains from current levels
- Ark purchased approximately 160,000 Tesla shares valued at $50 million following a 15% share price decline
Ark Invest’s Cathie Wood continues to demonstrate strong conviction in SpaceX and Tesla as premier AI-focused investments. During a July 22, 2026 interview on Fox Business, she outlined her rationale for these positions.
Following SpaceX’s June 2026 initial public offering, Ark committed approximately $530 million to the stock on day one. Since the debut, the firm has accumulated over $80 million in additional shares.
Space Exploration Technologies Corp., SPCX
Following the IPO, SpaceX shares climbed beyond $200 before experiencing a significant correction. As of July 27, 2026, the stock trades around $114.87, below its initial offering price of $135. This represents approximately a 45% decline from peak levels.
Rather than retreating, Wood increased her position. Ark acquired $21.3 million worth of SpaceX shares distributed across several funds during this downturn.
Wood’s AI Investment Thesis for SpaceX
While SpaceX may not appear to be a conventional AI investment, Wood’s argument focuses on critical infrastructure. Her thesis emphasizes space-based data centers and the Starlink satellite constellation as foundational elements for AI processing capabilities.
According to SpaceX, the company’s total addressable market reaches $28.5 trillion. Over 90% of this market opportunity connects to artificial intelligence applications. Morgan Stanley forecasts SpaceX revenue growth from $18.7 billion in 2025 to $319 billion by 2030.
Morgan Stanley maintains a $300 price objective for SpaceX. However, it should be noted the bank served as an underwriter for the company’s IPO. Currently, SpaceX operates at a loss.
Approximately 30 Wall Street analysts track the stock. Their consensus price target reaches $243.81. Individual targets range from a bullish $800 to a bearish sell rating at $115.
Ark Expands Tesla Holdings Too
Tesla typically represents 8% to 10% of Ark’s primary exchange-traded fund. When shares declined roughly 15% amid questions about AI development schedules, Ark intervened on July 24, 2026, acquiring around 160,000 shares for approximately $50 million.
For Tesla, Wood’s AI investment rationale centers on autonomous taxi services and the Optimus humanoid robotics initiative. She views Optimus as an artificial intelligence system learning from physical-world interactions.
Wood maintains that real-world AI applications — including self-driving vehicles, robotics platforms, and space-based infrastructure — will deliver superior long-term returns compared to large language model creators or cloud computing providers.
SpaceX now represents roughly 4.5% of the Ark Innovation ETF’s total invested capital. The firm has persistently added shares throughout the stock’s descent from its approximately $1.9 trillion peak market capitalization.
SpaceX’s 52-week trading range extends from $110.85 to $225.64. Current pricing sits near the bottom of this spectrum.
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