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Carbon nanotube fibers (CNTFs) are considered an ideal candidate as next‐generation conducting wires due to their high conductivity and low density. However, the orientation and compaction of the nanotubes in a CNTF need to be further improved to achieve even higher conductivity and ampacity. Here the fabrication of double‐wall CNTFs (DWCNTFs) is reported by a dry‐jet wet spinning method, which significantly improves the orientation and compaction of the carbon nanotubes (CNTs). As a result, the obtained DWCNTFs have a record high electrical conductivity of 1.1 × 107 S m−1 and ampacity of 8.0 × 108 A m−2. The fibers also have a high tensile strength of 1.65 GPa and a toughness of 130.9 MJ m−3, among the highest for wet‐spun CNTFs. The DWCNTFs preserve their integrity and conductivity after more than 5000 bending cycles. Theoretical calculations indicate that in a dry‐jet wet‐spinning process, gravity promotes the orientation of the CNTs along the axial direction of the fiber. [ABSTRACT FROM AUTHOR]