Key Highlights
- ARK Invest purchased 83,764 CoreWeave shares valued at approximately $6.9M in the Nvidia-partnered AI infrastructure firm
- The firm established its inaugural direct position in OpenAI with nearly 349,000 shares distributed across three ETFs
- ARK increased holdings in Kodiak AI autonomous trucking, Oklo nuclear technology, DoorDash, and genomics companies Arcturus and GeneDx
- The fund manager divested 745K Strata Critical Medical shares and reduced positions in Teradyne, Pinterest, and Veracyte
- ARKK has declined approximately 12% year to date, experiencing $1.2 billion in net investor redemptions over 12 months
Cathie Wood’s ARK Invest executed a decisive strategy shift toward artificial intelligence, genomics, and sustainable energy sectors in recent trading sessions, establishing significant new stakes while pruning multiple portfolio holdings.
The most substantial acquisition involved CoreWeave, an Nvidia-partnered cloud infrastructure provider specializing in GPU-accelerated data centers for artificial intelligence applications. ARK accumulated 83,764 shares over three consecutive trading days — March 30, 31, and April 1 — representing approximately $6.9 million in value at the $82 closing price.
CoreWeave, Inc. Class A Common Stock, CRWV
CoreWeave’s client roster includes technology giants Google and Microsoft. The company delivered fourth-quarter revenue of $1.57 billion in February, representing 110% annual growth. However, its first-quarter forecast of $1.9 to $2 billion fell short of the $2.29 billion analyst consensus.
Bank of America elevated CoreWeave to a buy rating in March with a $100 price objective. The firm’s analysts highlighted the company’s strategic positioning within an AI infrastructure sector they estimate at $79 billion.
ARK also established its maiden direct investment in OpenAI, the organization responsible for ChatGPT. Three ARK exchange-traded funds — ARKF, ARKK, and ARKW — collectively acquired 348,995 shares or units via a Series C allocation. ARK characterized this as its first direct cap table participation in OpenAI.
Expansion Into Self-Driving Logistics and Advanced Nuclear Power
ARK’s ARKQ fund acquired 230,000 shares of Kodiak AI, an enterprise specializing in autonomous trucking solutions and AI-powered logistics platforms. The fund manager also secured approximately 56,000 shares of Oklo, an innovative nuclear energy venture advancing next-generation fission reactor technology.
DoorDash represented another portfolio addition, with ARK expanding its consumer technology exposure through the meal delivery platform.
Within genomics, ARK’s ARKG fund purchased over 16,000 shares of Arcturus Therapeutics, a developer of RNA-based therapeutic solutions. ARK additionally acquired 39,000 shares of GeneDx, a genetic diagnostics and precision medicine enterprise, distributed between ARKG and ARKK.
Portfolio Reductions: Strata, Teradyne, and Pinterest Face Cuts
Regarding dispositions, ARK’s most significant exit by volume involved Strata Critical Medical. ARK liquidated 745,000 shares representing roughly $3 million in value.
ARK also decreased its stake in Veracyte, a molecular diagnostics provider, and scaled back exposure to semiconductor testing equipment manufacturer Teradyne. Pinterest, Discovery, and Japanese digital platform LY Corp also experienced position reductions.
Wood has articulated her expectation of a “great acceleration” in worldwide economic expansion fueled by artificial intelligence. She projects AI training expenditures are declining 75% annually while inference costs are plummeting between 85% to 98% per year.
ARKK has fallen approximately 12% year to date, versus a 3.8% decline in the S&P 500. The fund has recorded $1.2 billion in net investor withdrawals during the past 12 months.
CoreWeave settled at $82.24 on April 2 and has gained 15% year to date.
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