Cathie Wood Calls SpaceX Potential 'Most Important Company' in History

Credit: Cathie Wood on X

ARK Invest chief executive Cathie Wood called Space Exploration Technologies Corp. a potential global landmark during an interview on Fox Business.

The asset manager bought shares across four of her exchange-traded funds throughout July, raising ARK Invest’s total position in SpaceX above 4 million shares.

Wood said on Fox Business:

"SpaceX could become the most important company in global history."

The asset purchase occurred during a sharp drop for SpaceX stock (SPCX).

The company listed on the Nasdaq exchange in June through a $75 billion initial public offering, the largest IPO on record.

Shares reached a peak of $225.64 in mid-June before declining to $119.85. The fall erased nearly $1.4 trillion in market valuation.

Wood cited the structural link between rocket launches, satellite internet, and computing hardware.

SpaceX merged Elon Musk’s artificial intelligence venture, xAI, into its corporate structure under the name SpaceXAI.

Its Starlink division operates 9,600 satellites and provides broadband to 10.3 million customers in 164 countries.

Cathie Wood stated on Fox Business:

"The integration between launch capabilities, global communications, and AI infrastructure creates an unprecedented operational scale."

Credit: Fox Business / X

ARK Invest sold shares of Alibaba and Advanced Micro Devices to fund the equity buys. Portfolio disclosures confirm that the ARK Innovation ETF (ARKK) bought over 1.9 million SpaceX shares. The ARK Autonomous Technology & Robotics ETF (ARKQ), the ARK Next Generation Internet ETF (ARKW), and the ARK Space Exploration & Innovation ETF (ARKX) also added shares.

Financial reports show divergent numbers across divisions. According to Securities and Exchange Commission filings, SpaceX generated $4.7 billion in first-quarter revenue for 2026. The rocket launch segment brought in $619 million, and the AI segment earned $818 million. High spending on Starship testing and artificial intelligence data centers drove total net losses to $4.3 billion for the quarter.

The stock currently trades at 95 times trailing sales. Semiconductor manufacturer Nvidia trades at 24 times trailing sales. Market analysts point out that an August lockup expiration will free roughly 20% of outstanding shares for trading, creating potential selling pressure.

Skeptics warn that current share prices remain inflated relative to underlying revenues.

GMO founder Jeremy Grantham said on Fox Business:

"In 50 years, investors will be laughing at this valuation. It requires massive developments in AI for the math to work."

Wall Street investment banks retain elevated price targets.

Analysts at Morgan Stanley, Goldman Sachs, and JPMorgan set targets ranging from $205 to $300 per share.

They highlight long-term launch contracts with NASA and the United States Space Force, alongside growing enterprise backlog.

SpaceX recently finalized a $6.3 billion compute lease with Reflection AI. Reflection AI agreed to pay $150 million monthly through 2029 for access to Nvidia GB300 chips inside SpaceX computing facilities. Combined with a $920 million monthly deal with Google, SpaceX holds over $80 billion in contracted artificial intelligence backlog.