Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Cathie Wood says SpaceX(NASDAQ:SPCX) had no need for public markets as long as Starlink kept generating cash. Elon Musk's push into orbital AI data centers changed that. "I never thought SpaceX would go public," the ARK Invest CEO told Livewire. "Then Elon decided to get into orbital data centers." "He needs so much capital," Wood said. "He needs the scaling that the public equity markets will provide." The Numbers Behind Wood's Argument SpaceX's financials help explain her thinking. Its Connectivity business, primarily Starlink, generated $4.42 billion in operating income in 2025, while its AI business lost $6.36 billion.
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