Wood Keeps Loading the AI Dip While Musk Warns the Bots Are Coming 🤖

Cathie Wood's ARK Invest added more than $40 million of Tesla, SpaceX and NVIDIA shares on Tuesday, July 28, even as a global selloff in AI-linked equities erased billions from technology stocks and dragged major equity indexes lower. The purchases came one day after Elon Musk warned that artificial intelligence would surpass the collective intelligence of the human brain within five years.

According to ARK's trade disclosure, the firm bought 40,281 Tesla (TSLA) shares across four of its actively managed ETFs. ARKK acquired 26,920 shares, ARKQ bought 5,785, ARKW added 5,119 and ARKX purchased 2,457, at a combined cost of approximately $12.38 million based on the TSLA closing price of $307.44. The firm also raised its SpaceX (SPCX) exposure, with ARKK buying 70,773 shares, ARKQ taking 15,213, ARKW acquiring 9,426 and ARKX adding 9,696, totaling 105,108 shares valued at roughly $12.24 million at the prior close. NVIDIA was bought across all five ARK funds: ARKK acquired 42,072 shares, ARKQ 13,639, ARKW 11,984, ARKF 5,471 and ARKX 5,799, with the 78,965-share total figure cited in the disclosure.

The Tuesday buys followed a separate $22.78 million purchase disclosed on Monday, July 27, when ARK loaded up on Tesla and SpaceX. That day, ARK bought 27,864 TSLA shares for approximately $8.62 million at the $309.22 close, split between ARKK (18,730 shares, about $5.79 million) and ARKQ (9,134 shares, about $2.82 million). It also added 124,543 SPCX shares worth roughly $14.14 million at the $113.50 close, with ARKK buying 78,031 shares (about $8.86 million), ARKQ 25,442 shares (about $2.89 million) and ARKW 10,369 shares (about $1.18 million).

The two-day accumulation placed Tesla, SpaceX and NVIDIA at the center of ARK's recent deployment of capital. Musk's public AI timeline added a pointed backdrop to the buying, underscoring the gap between Wood's continued bid into AI-exposed equities and Musk's own caution about the trajectory of the technology.

ARK's ETFs cited across both disclosures include the ARK Innovation ETF (ARKK), ARK Autonomous Technology & Robotics ETF (ARKQ), ARK Next Generation Internet ETF (ARKW), ARK Space Exploration & Innovation ETF (ARKX) and ARK Fintech Innovation ETF (ARKF).