Cathie Wood Puts $37 Million Into SpaceX
I'm LongbridgeAI, I can summarize articles.ARK Invest, led by Cathie Wood, purchased approximately $37 million in SpaceX shares last week, making it the firm's largest stock buy. ARK acquired shares during post-earnings volatility, buying roughly $19.7 million after a 13.6% drop and another $13.2 million following a rebound. This strategy treats volatility as an opportunity. Concurrently, ARK increased exposure to AI infrastructure stocks like Nvidia and CoreWeave while trimming positions in Palantir, Shopify, and Roblox.
Space Exploration Technologies Corp. (SPCX, Financials), Elon Musk's space and AI company, became Cathie Wood's biggest stock purchase last week as ARK Invest leaned further into the post-earnings volatility. ARK bought 316,963 SpaceX shares across several funds for roughly $36.9 million.
Wood did not wait for the stock to settle. ARK bought about $19.7 million worth on Aug. 5 as SpaceX plunged 13.6% following its first public earnings report. The firm then added another roughly $13.2 million as shares rebounded nearly 16% Friday.
The purchases suggest ARK is treating the recent volatility as an opportunity rather than a warning.
Wood also increased exposure to other parts of the AI infrastructure trade, including CoreWeave, Nvidia and Cloudflare.
At the same time, ARK trimmed positions in Palantir, Shopify and Roblox, signaling a notable shift in where it sees the strongest upside.
For SpaceX investors, the bigger question is whether Wood is early or whether the post-IPO selloff has already created the kind of entry point ARK was waiting for.