Cathie Wood’s ARK Invest Drops $54 Million on SpaceX, Nvidia and Circle in One Day

TLDR

• ARK Invest bought over $54.6 million worth of SpaceX, Nvidia and Circle shares on August 5
• SpaceX was the largest purchase at $19.69 million, followed by Circle at $17.30 million and Nvidia at $17.63 million
• SpaceX reported Q2 revenue of $7.8 billion but posted a net loss of $541 million
• Circle’s Q2 revenue of $701 million missed estimates but earnings per share beat expectations
• Nvidia earnings are due August 26, with analysts projecting revenue of around $91.8 billion

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Cathie Wood’s ARK Invest spent over $54.6 million buying shares of three companies on August 5: Space Exploration Technologies, Nvidia, and Circle Internet Group.

The purchases were spread across several ARK funds, including ARKK, ARKQ, ARKW, ARKF, and ARKX.

SpaceX was the biggest buy of the day. ARK picked up 181,830 shares worth roughly $19.69 million, based on a closing price of $108.27. SpaceX shares fell 13.61% on the day.

Space Exploration Technologies Corp., SPCX

Nvidia came in as the third largest purchase by value. ARK bought 80,415 shares worth about $17.63 million. Nvidia shares rose 3.43% on the day, closing at $219.22.

Circle was ARK’s second largest buy. The firm acquired 273,343 shares worth approximately $17.30 million at a closing price of $63.28. Circle shares ended nearly flat, up just 0.05%.

Earnings in Focus

The buying came as all three companies were in the middle of earnings season.

SpaceX reported second quarter revenue of $7.8 billion, up from $4.1 billion in the same period last year. The company posted a net loss of $541 million, which was smaller than analysts had expected.

Circle reported quarterly revenue of $701 million, which came in slightly below Wall Street estimates. However, its earnings per share of $0.18 and net income of $48 million both beat expectations.

Nvidia has not yet reported its second quarter results. Those numbers are expected on August 26.

Analysts are projecting Nvidia to report earnings above $2.08 per share, with revenue estimated between $91.71 billion and $91.91 billion.

Why ARK Keeps Buying

ARK has been building its Nvidia position over several weeks. Demand for the chipmaker’s graphics processors has stayed strong, driven by cloud providers, AI developers and large enterprises building computing infrastructure.

The firm has been shifting capital away from some technology holdings and putting it into AI and space-related companies.

Circle is a stablecoin issuer that recently listed publicly. ARK’s purchase helped push it into one of its top five holdings by buying activity.

SpaceX does not trade on a traditional public exchange but is available through certain private market structures on platforms such as Nasdaq Private Market.

All three companies are in sectors that ARK has consistently targeted: artificial intelligence, financial technology, and space.

The latest round of purchases shows ARK continuing to concentrate its bets in these areas even as some of its portfolio names face near-term earnings pressure.