Key facts
- ARK Invest purchased over $22.78 million in Tesla and SpaceX stock.
- ARK Innovation ETF and ARK Autonomous Technology & Robotics ETF were the primary buyers of Tesla shares.
- ARK Innovation, ARK Autonomous Technology & Robotics, and ARK Next Generation Internet ETFs increased their SpaceX holdings.
- ARK also acquired shares in the 3iQ Solana Staking ETF.
- Elon Musk stated AI may surpass human intelligence within five years.
Cathie Wood's ARK Invest continued its investment in Elon Musk's companies, purchasing over $22 million in Tesla and SpaceX stock. This move occurred as Musk issued a stark warning about the rapid advancement of artificial intelligence, predicting it could surpass human intelligence within five years.
ARK Invest acquired 27,864 shares of Tesla across two of its actively managed exchange-traded funds, with the ARK Innovation ETF (ARKK) buying 18,730 shares and the ARK Autonomous Technology & Robotics ETF (ARKQ) purchasing 9,134 shares. The total value of these Tesla purchases was approximately $8.62 million.
In addition to Tesla, ARK increased its stake in SpaceX by acquiring 124,543 shares, valued at about $14.14 million. ARKK was the largest buyer of SpaceX stock, followed by ARKQ and the ARK Next Generation Internet ETF (ARKW). The ARK Space Exploration & Innovation ETF (ARKX) also added to its SpaceX holdings.
The investment firm also expanded its position in the 3iQ Solana Staking ETF (SOLQ.U), with ARKW and the ARK Fintech Innovation ETF (ARKF) making purchases. This diversification into crypto-related ETFs signals ARK's broader investment strategy.
Musk's AI warning came during an interview with The Economist, where he posited that AI might exceed the sum of human intelligence in roughly five years, potentially leading to an era of abundance but also raising concerns about powerful AI systems and "killer robots."