Key Highlights
- ARK Invest acquired 83,764 CoreWeave shares valued at approximately $6.9M in the Nvidia-backed AI cloud infrastructure provider
- First-ever direct OpenAI investment by ARK, purchasing nearly 349,000 shares distributed across three separate funds
- Expanded positions in Kodiak AI autonomous trucking, Oklo nuclear power, DoorDash, plus genomics companies Arcturus and GeneDx
- Divested 745K Strata Critical Medical shares and reduced exposure to Teradyne, Pinterest, and Veracyte
- ARKK has declined approximately 12% year to date, experiencing $1.2 billion in net outflows during the past year
Cathie Wood’s ARK Invest demonstrated a decisive shift toward artificial intelligence, genomics, and sustainable energy sectors last week, establishing significant new positions while divesting from multiple current holdings.
The most substantial acquisition involved CoreWeave, an Nvidia-supported cloud infrastructure provider specializing in GPU-accelerated data centers designed for AI computational demands. ARK accumulated 83,764 shares over three consecutive trading sessions—March 30, 31, and April 1—representing an investment of approximately $6.9 million at the $82 closing price.
CoreWeave, Inc. Class A Common Stock, CRWV
CoreWeave services major technology giants including Google and Microsoft. The company disclosed fourth-quarter revenue reaching $1.57 billion in February, representing a 110% year-over-year surge. However, its first-quarter revenue forecast of $1.9 to $2 billion fell short of the $2.29 billion consensus among Wall Street analysts.
Bank of America elevated CoreWeave to a buy rating in March, establishing a $100 price target. The firm’s analysts highlighted the company’s strategic positioning within what they estimate to be a $79 billion AI infrastructure marketplace.
ARK simultaneously executed its inaugural direct investment in OpenAI, the organization responsible for developing ChatGPT. Three distinct ARK funds—ARKF, ARKK, and ARKW—combined to purchase 348,995 shares or units via a Series C allocation. ARK characterized this transaction as its first direct capitalization table position in OpenAI.
Expansion into Autonomous Transportation and Next-Gen Nuclear
ARK’s ARKQ fund secured 230,000 shares of Kodiak AI, an enterprise specializing in autonomous freight transportation and AI-driven logistics solutions. The investment firm also acquired approximately 56,000 shares of Oklo, an innovative nuclear energy company pioneering advanced fission reactor technology.
DoorDash represented another strategic addition, with ARK expanding its consumer platform holdings through the food delivery service provider.
Within the genomics sector, ARK’s ARKG fund purchased over 16,000 shares of Arcturus Therapeutics, a biotechnology firm developing RNA-based therapeutic treatments. ARK additionally secured 39,000 shares of GeneDx, a genetic diagnostic testing and precision medicine enterprise, distributed between ARKG and ARKK funds.
Portfolio Reductions: Strata, Teradyne, and Pinterest Exit
Regarding divestments, ARK’s most substantial reduction by share volume targeted Strata Critical Medical. The firm liquidated 745,000 shares representing roughly $3 million in value.
ARK simultaneously decreased its stake in Veracyte, a molecular diagnostics provider, and diminished holdings in Teradyne, a semiconductor testing equipment manufacturer. Pinterest, Discovery, and Japanese digital platform LY Corp also experienced position reductions.
Wood has repeatedly articulated her expectation of an approaching “great acceleration” in worldwide economic expansion fueled by artificial intelligence advancement. She projects AI training expenses are declining 75% annually while inference computing costs are plummeting between 85% and 98% each year.
ARKK has experienced approximately a 12% decline year to date, contrasted with a 3.8% decrease in the S&P 500 benchmark. The flagship fund has recorded $1.2 billion in net capital outflows throughout the previous 12-month period.
CoreWeave shares settled at $82.24 on April 2, reflecting a 15% year-to-date gain.
