Key Takeaways
- ARK Invest purchased 113,076 CoreWeave shares valued at $12.9 million on May 8, following a recent sale of $25 million at elevated price levels
- CoreWeave experienced an 11% decline following disappointing Q2 revenue projections, despite reaffirming annual guidance between $12–$13 billion
- The investment firm liquidated more than 121,000 AMD shares worth approximately $46 million and exited 187,000 Rocket Lab shares
- The flagship ARK Innovation ETF posts a five-year annualized loss of -6.17%, while the S&P 500 delivered 13.45% returns during the same timeframe
- ARK simultaneously expanded holdings in GeneDx, Kratos Defense, Tempus AI, and Kodiak AI throughout the week
Cathie Wood’s investment firm ARK Invest acquired $12.9 million in CoreWeave shares on May 8, mere days following the disposal of approximately $25 million worth of identical stock at premium valuations.
CoreWeave, Inc. Class A Common Stock, CRWV
ARK disposed of 198,572 CoreWeave shares between May 4 and May 5, securing prices in the $125 to $127 range. Subsequently, following an 11% downturn to $114.15 on May 8, ARK repurchased 113,076 shares.
The price correction followed CoreWeave’s quarterly financial disclosure on May 7. The firm delivered revenue of $2.08 billion, surpassing Wall Street expectations of $1.97 billion and representing more than double the previous year’s $981.8 million.
However, shares tumbled due to CoreWeave’s underwhelming second-quarter forecast. Management projected Q2 revenue between $2.45 billion and $2.6 billion. The midpoint fell short of consensus analyst projections at $2.69 billion.
CoreWeave preserved its annual 2026 revenue projection of $12 billion to $13 billion. Chief Executive Mike Intrator noted the organization has achieved “hyperscale” status, securing contracts for more than 3.5 gigawatts of power capacity.
Bank of America maintained its buy recommendation with a $140 price objective. Their analysis indicated the conservative near-term projections reflected data center deployment scheduling rather than fundamental demand weakness.
Despite the current pullback, CoreWeave stock remains approximately 60% higher year-to-date. The enterprise operates GPU-accelerated data center infrastructure utilizing Nvidia processors, serving major clients including Google and Microsoft.
Portfolio Rebalancing Across Multiple Sectors
Beyond the CoreWeave transactions, ARK executed numerous portfolio adjustments throughout the week. The firm acquired over 245,000 GeneDx shares, representing approximately $15 million, strengthening its genomics portfolio. ARK also expanded positions in Tempus AI, Kodiak AI, Kratos Defense, L3Harris, and nuclear energy provider X-Energy.
Regarding sales activity, ARK’s largest divestment by monetary value involved AMD, disposing of over 121,000 shares for nearly $46 million. The organization also liquidated 187,000 Rocket Lab shares worth $18 million and reduced stakes in Aurora Innovation and Teradyne.
Performance Track Record
Wood’s ARK Innovation ETF has delivered inconsistent results. During 2020, it achieved 153% returns. In 2022, it declined more than 60%. For 2025, it gained 35.49%. Year-to-date in 2026, it has advanced roughly 1.61%, underperforming the S&P 500’s gain exceeding 8%.
Across the five-year period ending May 7, the ARK Innovation ETF recorded an annualized loss of -6.17%. The S&P 500 generated 13.45% annual returns during the identical timeframe, based on Morningstar data.
The fund experienced $1.32 billion in net redemptions during the 12-month period through May 7, including $252 million in outflows during the most recent month.
Wood has publicly stated her expectation that AI and emerging technologies will drive global GDP expansion to 7–8%. She characterizes the present environment as a “great acceleration” rather than an economic slowdown.
