Q1 2026 Webinar Summary

During ARK’s Q1 2026 mARKet update webinar, moderated by Dan White (CFA, Portfolio Manager), Cathie Wood (ARK CEO, CIO, and Founder) and ARK’s research team discussed developments across multiple innovation platforms. The conversation spanned artificial intelligence, space infrastructure, blockchain, cybersecurity, and autonomous mobility, with a consistent focus on how these technologies are scaling simultaneously. 

For further insights, please view the full webinar [HERE]

Can you talk more about your investment in OpenAI through your ETFs? What is the weighting, what ETFs made the investment and what was the rationale?

AI continues to evolve as a foundational platform. Frank Downing, Director of Research, Next Generation Internet, explained that OpenAI has been added across the ARK Innovation ETF (ARKK), the ARK Next Generation Internet ETF (ARKW), and the ARK Blockchain & Fintech Innovation ETF (ARKF), initially at a ~3% position. 

Our research suggests that generative AI is expanding beyond traditional software into global knowledge work, a market representing tens of trillions of dollars in annual wages. As AI systems improve, increasingly they are positioned to augment or replace portions of that labor. 

In our view, model builders like OpenAI are emerging as core infrastructure providers, analogous to cloud platforms in prior cycles.

Will your ETFs invest in SpaceX when it IPOs? Will it remain in your venture fund?

SpaceX remains one of ARK’s highest-conviction opportunities, driven by both Starlink and emerging orbital data center potential. 

While SpaceX currently represents a significant position in the ARK Venture Fund (ARKVX), increased public market access following a potential IPO could shift how exposure is allocated over time.

What are your thoughts on Elon’s “promise” to give a path for long-term Tesla retail investors to access SpaceX shares pre-IPO?

Tasha Keeney, Director of Research, Autonomous Technology & Robotics / Director of Investment Analysis, highlighted that structures like the ARK Venture Fund already provide a pathway for broader investor access to private companies. 

In our view, expanding access to private innovation remains a key theme, particularly as some of the most transformative companies remain private for longer periods of time.

What is the total addressable market for space-based data centers?

Tasha Keeney discussed early estimates which suggest that orbital compute could represent a substantial new market. Depending on use cases, revenue potential could vary significantly based on whether compute is rented or used to power proprietary AI models. 

Our research suggests that space-based infrastructure could extend the economics of compute by leveraging unique advantages like energy availability and cooling efficiency.

If orbital data is the answer, is the supply of liquid oxygen available in the US sufficient to deploy significant orbital infrastructure? Would the increase in demand challenge hospitals? Could this trigger new regulations?

Tasha Keeney emphasized that constraints are more likely to be logistical than resource-based, noting that oxygen is abundant but requires scaling supply chains for industrial use. 

In our view, innovation in supply chains, historically a strength of companies like SpaceX, will be critical to enabling large-scale deployment.

Can you provide an updated thesis on tokenized assets?

Lorenzo Valente, Director of Research, Digital Assets, described a rapidly evolving landscape, with approximately $1 trillion in on-chain assets excluding bitcoin and significant growth in tokenized products. Stablecoins have emerged as an early success, while tokenized equities and other assets are likely to follow as infrastructure matures. Our research suggests that tokenization could improve speed, cost, and accessibility across financial markets.

Can you discuss your outlook on the cybersecurity industry? Some funds own the hyperscalers¹ and pure play providers, how do you think about hyperscalers bundling security functions, and what does this mean for the long-term competitive positioning of pure plays?

Jozef Soja, Research Analyst, Next Generation Internet, explained that AI is increasing the importance of cybersecurity, not displacing it. As AI models become more capable, they also introduce new vulnerabilities, increasing demand for advanced security solutions. Our research suggests that specialized providers with strong data advantages and distribution should continue to gain share despite competition from hyperscalers.

Uber is positioning itself as the ultimate open autonomous vehicle platform that any robotaxi player can plug into. In ARK’s view, how much long-term value will go to these aggregator platforms versus the underlying autonomous vehicle technology owners?

Tasha Keeney noted that while aggregators like Uber are positioning themselves within the ecosystem, the majority of long-term value is likely to accrue to companies that develop the underlying autonomous technology. Our research estimates that robotaxis could represent a multi-trillion-dollar opportunity, with cost reductions driving widespread adoption. 

How? 

• Cost per mile is the key driver of value creation. 
• Technology ownership may determine long-term economics.

Conclusion

Across the questions in this update, a consistent theme emerged: innovation platforms are scaling simultaneously and beginning to converge. In our view, advances in AI, space infrastructure, blockchain, and autonomous systems are reinforcing one another, expanding total addressable markets and accelerating adoption. While volatility could persist in the near term, the long-term trajectory of innovation remains intact. Check out our In The Know video series for deeper insights.  

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