Cathie Wood's ARK Invest dropped more than $22.78 million on Tesla and SpaceX stock on July 27. The purchase comes as Elon Musk, CEO of both companies, warned that artificial intelligence will be smarter than the collective intelligence of the human brain within five years.
A bet on Musk's empire
ARK's latest buy adds to its already hefty position in Tesla, a stock the firm has long championed. The inclusion of SpaceX shares is notable — the private rocket company is not publicly traded, but ARK has been building exposure through special-purpose vehicles. The $22.78 million figure covers both stocks, though ARK did not break down the split.
The five-year AI timeline
Musk's warning, delivered in a recent interview, sets a shorter horizon than most AI researchers project. He has repeatedly called for proactive regulation, arguing that unconstrained AI development poses an existential threat. The timeline — within five years — puts the milestone around 2029.
The two developments highlight a tension at the heart of Musk's public persona. He runs companies that push the boundaries of AI, from Tesla's self-driving software to SpaceX's autonomous systems, while simultaneously sounding alarms about the technology's risks. ARK's investment suggests its managers see those risks as manageable — or at least worth taking.
