ARK Weekly: Musk Terafab, Beam Gene Editing, OpenAI Ads

[!warning] Conflict of Interest ARK Invest is an active fund manager. All commentary promotes positions ARK holds or is considering. Read as promotional context, not independent analysis.

Key Topics (Week of Mar 30, 2026)

Elon Musk’s Terafab Chip Facility

Musk unveiled plans for a “Terafab” — a facility targeting 1 terawatt of AI chip production annually, ~50x current global available new compute. Could scale to ~100M sq ft (~3x Central Park), requiring ~10GW of power (~10 large nuclear reactors). ~80% of output (Tesla-designed chips) earmarked for orbital data centers, ~20% for terrestrial use (robotaxis, Optimus). Unofficial reports suggest SpaceX IPO raising $75B+ imminent. ARK argues Starship full reusability could cut launch costs from ~$1K/kg to ~$100/kg, making space-based compute ~25% cheaper than terrestrial. Starship V3 first flight scheduled within weeks.

Beam Therapeutics Gene Editing Data

Beam reported Phase 1/2 data for BEAM-302, a one-time IV gene-editing therapy for alpha-1 antitrypsin deficiency (AATD). Single dose produced 94% corrected functional protein, 84% reduction in toxic mutant form, with up to 12 months follow-up. FDA receptive to accelerated approval via biomarker endpoints. Pivotal cohort of ~50 patients to initiate H2 2026. Current standard of care (augmentation therapy) costs $100K+/year and doesn’t address liver disease. Intellia expected to report pivotal Phase 3 data for hereditary angioedema gene-editing therapy this year.

OpenAI Ads Pilot Hits $100M ARR

OpenAI’s advertising pilot crossed $100M annualized revenue in under 2 months. Working with 600+ advertisers, ads at bottom of ChatGPT responses, only ~20% of eligible free/Go users see ads on any given day. Expanding to Canada, Australia, New Zealand. ARK projects consumer AI monetization (ads + subscriptions + commerce) hitting $900B by 2030.

RDCO Relevance

The Terafab announcement is maximally promotional — Musk facility timelines are historically unreliable, and ARK holds significant Tesla/SpaceX positions. The Beam gene-editing data is more substantive as a clinical readout. OpenAI ads revenue is a useful benchmark for AI monetization velocity.