Cathie Wood’s ARK Innovation ETF (ARKK) purchased $7 million in additional Space Exploration Technologies (SpaceX) shares. The firm distributed the investment across multiple portfolios, including its flagship ARKK fund.
ARK funded the acquisition by selling over 570,000 shares of Alibaba. This trade aligns with a strategy to pivot from Chinese equities toward high-growth artificial intelligence sectors.
ARK analysts previously projected a $3.1 trillion enterprise value for SpaceX by 2030.