Cathie Wood Says SpaceX Could Become the Most Important Company in History

ARK Invest CEO Cathie Wood remains firmly bullish on SpaceX despite the company's recent stock decline, arguing that the long-term opportunity far outweighs current market concerns. Shares of SpaceX (SPCX) have fallen roughly 40% from their peak and are now trading below their debut price, reflecting investor caution over ongoing losses and Starship development setbacks.

In a recent interview with Fox Business host Maria Bartiromo, Wood immediately identified SpaceX as her top investment choice. She highlighted the company's growing potential beyond rocket launches, pointing to opportunities in orbital data centers and artificial intelligence infrastructure.

Wood has been a strong supporter of SpaceX since its public listing in late 2023. On its first trading day, ARK Invest purchased approximately $529.7 million worth of shares, funding part of the investment by trimming its Tesla holdings. The move followed ARK's strategy of investing early in high-growth companies such as Coinbase and CoreWeave.

Wood also made one of her boldest forecasts yet, stating that SpaceX could become "the most important company in history." She believes the company's competitive advantage stems from Starlink, its satellite internet network, which reportedly operates around 70% of the world's active satellites. According to Wood, Starlink is currently the company's primary profit engine.

She also noted that SpaceX has expanded into AI infrastructure by leasing computing capacity to major technology companies, including Anthropic and Google. The company may also provide services supporting xAI's Grok models. Wood estimates that SpaceX could eventually generate annual revenue of about $47 billion.

Despite her optimism, investors remain cautious. SpaceX shares recently traded near $119 after falling nearly 4% in Wednesday's session. Regulatory filings show the company has accumulated roughly $41.3 billion in losses, while repeated Starship testing delays have weighed on sentiment.

Wood argues the market is overlooking SpaceX's technological lead, particularly its pioneering reusable rocket technology, which gave the company a significant advantage over competitors. Although her investment track record has experienced both major successes and steep drawdowns, she believes the recent pullback presents a buying opportunity as SpaceX targets multiple trillion-dollar markets in space communications, AI infrastructure, and beyond.