Don’t chase what was. Own what’s next. Big Ideas 2026. Download now: ark-invest.com/big-ideas-202…

.@CathieDWood started ARK at 57 and wishes she had done it earlier. She believes talent is shifting toward entrepreneurship and thinks the next few years will bring a labor shortage as talent walks away to start companies instead of working for them.

Volvo to start rolling out autonomous trucks in 2027…more in our newsletter below!

SpaceX is now public. For ARK, this moment has been years in the making. We initiated our position in the ARK Venture Fund in 2023, long before the S-1 was filed, and have built conviction through every data point since. Our thesis has not changed: this is one of the most important infrastructure companies of our lifetime. $SPCX is now accessible in public markets, and ARK is invested in it across the ARK Space & Defense Innovation ETF $ARKX, ARK Autonomous Technology & Robotics ETF $ARKQ, ARK Innovation ETF $ARKK, and ARK Next Generation Internet ETF $ARKW.

"SpaceX is in the early innings of its value creation cycle." @DMaguireARK, ACA with @RemyBlaireNews on @FINTECHTVglobal explaining how a vertically integrated compute model at 100 gigawatts per year makes this opportunity almost impossible to size.

amongst other misperceptions I think the entire aerospace industry has been colored in profound structural ways by high cost to launch and geostationary satellite design. every engineering process was designed around creating multi-layered protections against component failure because there was such a high fixed cost to lofting those components. If you're spending a $20k per kg to put the thing up, and in the event of failure your next chance to loft the asset will be year's away, then it makes sense to massively over-engineer the asset. In low earth orbit, as well, you need thousands of duplicated assets with rated lives measured in years not in decades. with starship and starlink, most of the cost is not fixed cost of launch, its in the payload bay. Cost to launch should get below $100 per kg and you may be able to relaunch next week (if something goes wrong.) Cost to manufacture starlink v3, we think will start at ~$1,000 per kg. Associated groundstation capex for the incremental bandwidth is also much more meaningful relative to the cost of launch. Net you are fine trading off reliability vs cost since you have to design for failure anyway (given thousands of assets) and sacrificing 1% reliability for 5% cost savings is a huge win. This runs counter to everything that the industry has internalized over 50 years, so it has allowed SpaceX to continue to run orthogonally for nearly a decade. With starship and v3 starlink we should begin to see the fruits of that labor really come to pass.

yes the AI playing field is in flux: frontier models could be eaten alive by commoditization continuous learning could reshuffle the leaderboard regulatory hardening could lift the ladder up behind openAI and Anthropic While you argue about that: being able to loft ~20x more bandwidth per launch as Starship commercializes could alone be enough to lead SpaceX towards $500 billion in revenue at high 80s gross margins over the course of the decade.

Anthropic is paying SpaceXAI $1.25 billion per month to rent its Colossus supercomputer cluster. That is $15 billion a year on a $30 billion build. The economics of AI infrastructure are unlike anything we have seen before. @CathieDWood covers the AI infrastructure “boom” in “In The Know.” ark-invest.com/videos/market…

A magic wand that taps to pay sold out in hours. The launch highlights something investors have waited to see. Product velocity is returning to Block. Interesting X Article from @varshikaARK ⬇️

One of the most anticipated initial public offerings (IPO) of the year is here. ARK Invest has held SpaceX in the ARK Venture Fund since 2023. Reusable rockets. Starlink's profitability. A 10-year lead on every competitor. The IPO does not change our thesis. It validates our research and conviction that this is one of the most important infrastructure companies of our lifetime. We intend to hold $SPCX through the listing and into the public markets. Current holdings: ark-ventures.com

The SpaceX pre-IPO perp on @HyperliquidX just crossed $400M in 24h volume, a 10x from $40M in a matter of days. At $177, the market is pricing the launch above a $2T valuation. The real test: how close does this print to the post-IPO price? These markets will start to matter A LOT at 1-2B of OI.

ARK first sized the Starlink opportunity at $34 billion. SpaceX now puts the total addressable market (TAM) at $1.6 trillion. The difference? Building their own phased array antennas to crush the cost curve and unlock markets.