Ark Invest CEO Cathie Wood delivered a sweeping endorsement of SpaceX as shares traded 48% below their peak and 13% under the IPO price, citing Starlink, space exploration and orbital data centers as historic opportunities.
Key Takeaways
Cathie Wood, CEO of Ark Invest, said SpaceX could become “the most important company in history.”Shares traded at $116.95, about 48% below their $225.64 peak and 13% below the $135 IPO price.Wood sees Starlink and orbital data centers turning SpaceX into a global communications and AI infrastructure powerhouse.Ark Invest CEO Cathie Wood doubled down on SpaceX despite the stock’s punishing retreat, arguing that Elon Musk’s company has the potential to transform communications, artificial intelligence and humanity’s access to space.
“We think this could become the most important company in history, and I mean in global history.”
“Because we are talking about not only really exploring a new world—the universe—in terms of its launch capabilities and helping others to do so as well, but also a global communications network,” she explained.
Wood argued that telecommunications has traditionally been a country-by-country business, where companies entered new markets by acquiring local telecom operators. She said Starlink has changed that dynamic, emphasizing:
“This is a global business, and SpaceX is the first mover with 70% of the satellites out there.”
That scale supports Ark’s broader Starlink investment thesis, which treats satellite broadband as a central source of SpaceX’s long-term value.
Orbital Data Centers Add an AI OpportunityWood’s bullish thesis doesn’t stop with internet access. She believes SpaceX could use its satellite and data center infrastructure to lower computing costs and support the development of advanced AI models.
“Beyond that, we have the global data centers, or orbital data centers, so they will be the most economic and will allow Elon and team the opportunity to develop, we think, some of the most sophisticated frontier models in the world at the lowest cost. So, huge opportunities,” Wood said.
The Ark Invest executive added that SpaceX is already monetizing its computing infrastructure on Earth:
“In the meantime, on Earth, SpaceX is renting out its data centers to Anthropic and Google and others. It’s an amazing story.”
Her comments highlight why Ark has continued increasing its SpaceX position despite the stock’s sharp decline. The company’s first quarterly earnings report and the Aug. 6 start of the expiration of restrictions on roughly $116 billion worth of insider shares are expected to be the next major tests of whether investors share Wood’s long-term conviction.
