Cathie Wood’s Ark Investment Management bought almost $40 million worth of shares of Nvidia, Tesla, and Space Exploration Technologies on July 28, as all three stocks were dropping. Nvidia reported revenue of $81.6 billion in the first quarter of its fiscal year 2027, ended April 2026, up 85% year over year, with adjusted earnings per share of $1.87, up 140%. Management projects $91 billion in revenue for its upcoming second quarter, a year-over-year increase of almost 95%. The stock trades at 25.5x forward earnings versus an average of 22.1x for information technology stocks, and still looks like a buy. Tesla’s second quarter revenue increased by 26% year over year to $28.2 billion, but adjusted EPS dropped 18% to $0.33. The stock trades at 169.5x forward earnings, with significant uncertainty around its robotaxi efforts, making it fairly risky and volatile. SpaceX dominates space travel and satellite-based internet connectivity, but its valuation appears too frothy at the moment.