Cathie Wood makes surprising deeper bet on robotaxis

Core Viewpoint - ARK Invest, led by Cathie Wood, is focused on the transformative potential of autonomous vehicles, particularly robotaxis, which are expected to significantly enhance auto economics and valuations [1][2]. Group 1: Tesla and Robotaxi Valuation - Cathie Wood estimates that Tesla's robotaxis will account for 90% of the company's enterprise value, contributing to a multi-trillion-dollar opportunity by 2030 [2]. - ARK's model projects Tesla's stock price could reach $2,600 by 2029, with a bear case of $2,000 and a bull case of $3,100 [1]. Group 2: ARK Invest Performance - ARK's flagship fund, ARKK, has seen a remarkable 46% increase year-to-date through September 26, outperforming the S&P 500's 15% gain [2]. - Tesla stock represents nearly 10% of ARK's portfolio, valued at approximately $1.50 billion [2]. Group 3: Expansion into Freight - ARK Invest has recently invested in Kodiak AI, a company focused on autonomous freight, indicating a strategic expansion beyond passenger rides [3][4]. - Kodiak AI began trading on September 25, following a merger that valued the startup at $2.5 billion [5][6]. - The company operates fully driverless long-haul routes and has partnerships for handling complex low-speed scenarios, positioning itself as a strong contender in the autonomous trucking space [6][7].