Cathie Wood Loads Up on SpaceX Stock with $529 Million Bet

Cathie Wood, head of Ark Investment Management, has made another high-profile bet on a newly public company. She purchased more than $529 million worth of SpaceX stock in recent days.

This move follows her history of investing in companies shortly after their IPOs, often focusing on sectors like artificial intelligence, cryptocurrency, and cloud computing. Wood's Ark funds have previously invested in Tempus AI (TEM), Coinbase (COIN), and CoreWeave (CRWV).

The flagship Ark Innovation ETF (ARKK) has been struggling this year, down 2.85% as of June 12, while the S&P 500 surged 8.56%. However, Wood's fund did deliver a 35.49% return in 2025, outperforming the S&P 500's 17.88% gain.

Wood expects 'a great acceleration' brought by technology developments and focuses on high-tech companies across artificial intelligence, blockchain, biomedical technology, and robotics. However, her style has also led to painful losses in bearish markets, with the Ark Innovation ETF tumbling over 60% in 2022.