Cathie Wood’s flagship venture fund has realigned its heaviest bets following a record-breaking merger between Elon Musk’s aerospace giant and his artificial intelligence startup.
The ARK Venture Fund (ARKVX) has confirmed that SpaceX and xAI have merged in a “transformative deal” that values the combined entity at $1.25 trillion.
This consolidation has officially solidified SpaceX as the fund’s largest single position. According to fund data as of Jan. 31, SpaceX held a weight of 11.23%, while xAI Holdings Corp. stood at 6.31%.
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Combined, the new “Muskonomy” powerhouse represents a massive 17.54% anchor for the ARK portfolio.
Two of our high-conviction holdings— SpaceX and xAI—have merged in a transformative deal valuing the combined company at $1.25 trillion. This solidifies SpaceX as the ARK Venture Fund’s largest position.
Holdings: https://t.co/FjEkAZSUnB pic.twitter.com/KjcU02zqpy
The merger, which Musk announced on Monday, involved SpaceX acquiring xAI to unify his missions in space and artificial intelligence (AI). The transaction values SpaceX at approximately $1 trillion and xAI at roughly $250 billion.
This deal shattered a twenty-year record for global M&A, previously held by Vodafone’s $203 billion takeover of Mannesmann in 2000.
Musk framed the synergy as a long-term play for human intelligence, stating the merger marks “not just the next chapter, but the next book” in his shared mission. Taking to X, Musk celebrated the union: “To the stars! SpaceX & xAI are now one company.”
Here is a list of ARKVX’s top five holdings.
Ticker
Name
Weight (%)
Private Company
SpaceX
11.23%
Private Company
X.AI Holdings Corp.
6.31%
Private Company
Figure AI Inc.
4.24%
Private Company
Databricks, Inc.
3.55%
Private Company
Zipline International Inc.
3.41%
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The combined entity towers over other ARKVX holdings, such as Figure AI (4.24%) and Databricks (3.55%). This strategic move comes as SpaceX reportedly prepares for a potential public offering later this year that could see its valuation climb past $1.5 trillion.