Starlink

<div>SpaceX stock has fallen to its lowest level since going public, but ARK Invest CEO Cathie Wood is defending her fund’s position as the company expands deeper into AI infrastructure.SpaceX Stock Falls Below IPO Price <a href="https://coinpaper.com/33277/spacex-shares-hit-record-low-after-seven-day-losing-streak" rel="noopener noreferrer nofollow">SpaceX stock recently</a> traded 5% down near $117, dropping below its $135 IPO price and marking its lowest level since listing. The decline extended a sharp pullback from earlier highs, with the stock losing more than $1 trillion in market value over the past month.Source: <a href="https://coincodex.com/stock/SPCX/" rel="noopener noreferrer nofollow">CoinCodex</a>The sell-off has placed SpaceX under closer investor scrutiny as markets assess its valuation, upcoming share unlocks, and expansion plans. Reports have also pointed to a planned $116 billion share unlock, which could add pressure if early holders decide to sell.Despite the decline, ARK Invest has allocated about $80 million to SpaceX after its public debut. Wood said the stock is down from its peak but not from the original IPO level, while reaffirming ARK’s long-term view.Wood said, “We think this could become the most important company in history, and I mean in global history.” She tied that view to SpaceX’s launch business, satellite network, and growing data center strategy.Cathie Wood Backs SpaceX’s Long-Term Role Wood said SpaceX is building more than a space launch company. She pointed to its role in global communications, where Starlink gives the company a broad satellite network that operates across borders.She <a href="https://x.com/niccruzpatane/status/2079987775043166562?s=20" rel="noopener noreferrer nofollow">said</a> telecom has historically been a local business, often entered by buying national telecom companies. SpaceX’s satellite model changes that structure by offering a global communications system from orbit.Wood also said SpaceX controls about 75% of satellites currently in orbit. That position gives the company a large base for communications, space services, and future orbital infrastructure.ARK’s CEO also linked SpaceX to frontier AI. She said orbital data centers could become highly economic and may help <a href="https://coinpaper.com/33187/spacex-spcx-falls-over-5-as-starship-launch-aborts-on-engine-failure" rel="noopener noreferrer nofollow">Elon Musk’s companies</a> train advanced AI models at lower cost.Musk has also warned investors against betting against SpaceX shares. He wrote that “The survival probability of firms that maintain a significant short position in SpaceX over time is very low.”Texas Data Center Expansion Adds AI Focus SpaceX is <a href="https://x.com/StockSavvyShay/status/2079920718884810912?s=20" rel="noopener noreferrer nofollow">preparing</a> for at least one large-scale data center in Texas. The expansion could increase its AI computing capacity beyond its Memphis-area hub, where it operates two data centers with around 1 gigawatt of compute capacity.The company has explored several potential Texas sites in recent months. It has also considered building new data centers from scratch and converting an existing warehouse for computing operations.The planned Texas project could reach a similar or larger scale than the Memphis facilities. SpaceX has already sent some data center staff to Texas as it prepares for the expansion.The company has signed AI computing deals with Anthropic and Google, expanding its effort to generate revenue from AI infrastructure. These agreements add another business line beside launches, satellites, and communications.Wood said SpaceX is already renting data center capacity to major AI companies. She added that the company’s combination of launch systems, satellites, communications, and AI computing makes it a wider infrastructure business.</div>

ARK Invest CEO Cathie Wood Predicts SpaceX Will Be History’s Important Company

Coinpaper.com

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