Cathie Wood’s ARK Targets $1.75T SpaceX IPO
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- Cathie Wood – ARK Invest’s $1 billion internal venture fund’s largest holding is SpaceX, which is targeting a $1.75 trillion IPO valuation.
- SpaceX – ARK first bought shares in late 2023 when the company was valued under $200 billion, added more in 2025, and increased exposure via its stake in xAI, which merged with SpaceX earlier this year.
- OpenAI – Alongside Anthropic, it is a top ARK holding expected to go public after SpaceX, potentially delivering another windfall.
- ARK Invest – Its flagship ETFs have shrunk by roughly two‑thirds after a 67 % loss in 2022, while its interval venture fund, launched in 2022, has posted an average 29 % annual gain.
- Tasha Keeney – The director of investment analysis says classifying SpaceX as a tech or telecom company is “broken,” preferring ARK’s thematic, technology‑based coverage.
- Dan Rodriguez – Hired as chief risk officer last year, bringing hedge‑fund experience to address Morningstar’s concerns about ARK’s risk‑management.
- Brett Winton – ARK’s chief futurist describes AI as a multi‑trillion‑dollar opportunity now being realized, reinforcing the firm’s long‑term, high‑conviction strategy.
Why it matters: ARK’s investors stand to gain a massive return if the $1.75 trillion SpaceX IPO materializes, offsetting recent losses that have cut the firm’s flagship ETFs by two‑thirds, while Morningstar’s risk‑management concerns remain a head‑wind for the high‑conviction strategy and could attract fresh capital to ARK’s venture fund, reinforcing its long‑term focus on disruptive tech.
