SpaceX Surges 19.2% As ARK Buys $530M Stake After $2T IPO

Cathie Wood’s ARK Invest bought about $530 million of SpaceX shares after the company’s record IPO, making one of the biggest early bets on the stock.

SpaceX IPO

ARK disclosed the purchase on Jun. 15, according to trading filings cited by media, after SpaceX completed the largest IPO in market history.

The firm bought nearly 3.3 million shares across three exchange-traded funds, with the largest allocation going to the ARK Innovation ETF. Smaller purchases went to the ARK Autonomous Technology & Robotics ETF and the ARK Space Exploration & Innovation ETF.

SpaceX priced its IPO at $135 and closed its first session at $160.95, a 19.2% gain that lifted its market value above $2 trillion. Reports cited by CoinCodex said investor orders approached $250 billion, while the company raised about $75 billion.

To fund the purchase, ARK sold more than $325 million of other holdings, including shares in AMD, Roku, Baidu and aerospace-related companies. That rotation suggests ARK sees more upside in SpaceX than in several positions it already owned.

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ARK Thesis

ARK’s bet is not built only on rockets, even though launch services remain SpaceX’s most visible business.

The firm has long pointed to Starlink as a major part of SpaceX’s value, citing its satellite internet network and its expansion into enterprise, aviation, maritime and government markets. ARK has also tied the company’s future growth to AI infrastructure, where high-speed global connectivity could become more valuable.

In earlier research, ARK estimated that SpaceX could reach a $2.5 trillion enterprise value by 2030, with a bullish case above $3.1 trillion. The new purchase shows Wood is acting on that thesis soon after public trading began.

The timing matters because SpaceX’s debut may become a benchmark for future technology listings, including possible IPOs from OpenAI and Anthropic. For ARK, the move follows years of private-market interest in SpaceX, where institutions often paid premiums to gain exposure before the listing.

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