Cathie Wood's Ark Invest purchased $17.3 million in Circle and $20 million in SpaceX shares following recent earnings reports. While SpaceX posted a 92% revenue surge to $7.8 billion, its stock fell 13.61% as investors reacted to a sixfold increase in capital expenditures to $18.4 billion, driven by heavy AI infrastructure spending. To support its AI expansion, SpaceX committed to using Nvidia chips exclusively and partnered with Nvidia on orbital data centers, while also advancing its $60 billion Cursor acquisition.
Ark Invest share purchases
- ▪Ark Invest purchased 273,343 shares of Circle Internet Group, valued at approximately $17.3 million, across three of its exchange-traded funds on August 5, 2026.
- ▪Ark Invest purchased 181,830 shares of SpaceX on August 5, 2026, across four of its exchange-traded funds as the rocket maker's stock price fell 13.61%.
- ▪Ark Invest purchased 54,776 shares of Coinbase Global and 23,070 shares of Circle Internet Group on August 3, 2026, totaling approximately $9.4 million.
SpaceX Q2 2026 earnings
- ▪SpaceX reported second-quarter 2026 revenue of $7.8 billion, representing a 92% year-over-year increase and exceeding Wall Street expectations of $6.9 billion.
- ▪SpaceX reported second-quarter 2026 capital expenditures of $18.4 billion, representing a sixfold increase from the prior year, with $15.83 billion dedicated to artificial intelligence.
- ▪SpaceX Chief Executive Officer Elon Musk projected that SpaceX could reach $1 trillion in annual revenue by 2029 or 2030, moving the target forward from 2031.
Starlink mobile service expansion
- ▪SpaceX plans to integrate Starlink mobile services with EchoStar spectrum in 2027 following approval of a spectrum transfer by the Federal Communications Commission.
- ▪SpaceX President Gwynne Shotwell announced plans to launch Starlink mobile partnerships with international carriers and aims to deliver standalone mobile service by the end of 2027.
Nvidia AI infrastructure partnership
- ▪Elon Musk announced that SpaceX will build its artificial intelligence data centers exclusively using Nvidia chips, aiming to reach over 2 gigawatts of compute by the end of 2026.
- ▪SpaceX announced a partnership with Nvidia to design the Starmind AI1 satellite compute payload, which will feature Nvidia Rubin GPUs and Vera CPUs for orbital data centers.
Cursor acquisition regulatory status
- ▪SpaceX is seeking to close its $60 billion acquisition of Cursor in the third quarter of 2026, though Chief Executive Officer Elon Musk expressed caution regarding regulatory approvals.
- ▪SpaceX Chief Financial Officer Bret Johnsen stated that the company's projection to reach $100 billion in annualized recurring revenue by the end of 2026 assumes contributions from Cursor.
Terafab chip manufacturing facility
- ▪SpaceX plans to construct a microchip manufacturing facility named Terafab in East Texas alongside partners Tesla and Intel, with a projected cost of up to $119 billion.
- ▪SpaceX stated in its initial public offering filing that the Terafab initiative aims to extend vertical integration, optimize compute performance, and alleviate future chip shortages.
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