Cathie Wood Buys SpaceX and CoreWeave After 30% Slides in 1 Month
Updated
Updated · The Motley Fool · Jul 20
Cathie Wood Buys SpaceX and CoreWeave After 30% Slides in 1 Month
3 articles · Updated · The Motley Fool · Jul 20
Summary
July 17 purchases added more SpaceX and CoreWeave shares across several Ark funds, extending Wood’s recent buying spree in beaten-down AI and tech names.
More than 30% monthly declines appear to be the trigger: SpaceX closed at $123.99, below its $135 IPO price, while broader worries about heavy AI spending have pressured the sector.
SpaceX was added to Ark Innovation, Autonomous Technology and Robotics, Next Generation Internet, and Space and Defense Innovation; CoreWeave was bought for Ark Innovation and Next Generation Internet.
Both companies fit Wood’s long-term disruptive-tech strategy but remain unprofitable and risky, with SpaceX tied to ambitious projects such as space-based data centers and CoreWeave focused on renting Nvidia GPU capacity for AI workloads.