Key Highlights
- ARK Invest acquired 83,764 shares of CoreWeave totaling approximately $6.9M in the Nvidia-backed AI infrastructure provider
- ARK entered OpenAI for the first time with nearly 349,000 shares distributed across three investment vehicles
- ARK expanded positions in Kodiak AI autonomous trucking, Oklo nuclear technology, DoorDash, plus genomics companies Arcturus and GeneDx
- ARK divested 745K shares of Strata Critical Medical and reduced exposure to Teradyne, Pinterest, and Veracyte
- ARKK has declined approximately 12% this year, experiencing $1.2 billion in net redemptions over the trailing twelve months
Cathie Wood’s ARK Invest executed a decisive shift toward artificial intelligence infrastructure, genomics innovation, and sustainable energy last week, establishing significant new stakes while exiting portions of existing portfolio companies.
The firm’s most substantial acquisition involved CoreWeave, an Nvidia-supported cloud infrastructure provider specializing in GPU-accelerated data centers designed for AI computing tasks. 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 a $82 closing price.
CoreWeave, Inc. Class A Common Stock, CRWV
CoreWeave services major technology firms including Google and Microsoft. The company disclosed fourth-quarter revenues reaching $1.57 billion in February, reflecting 110% annual growth. However, its first-quarter revenue forecast of $1.9 to $2 billion fell short of the $2.29 billion consensus analyst projection.
Bank of America elevated CoreWeave to a buy rating in March with a $100 target price. The firm’s analysts highlighted the company’s strategic positioning within what they estimate to be a $79 billion artificial intelligence infrastructure marketplace.
ARK also established its inaugural direct stake in OpenAI, the organization responsible for developing ChatGPT. Three ARK investment vehicles — ARKF, ARKK, and ARKW — collectively acquired 348,995 shares or equivalent units via a Series C allocation. ARK characterized this transaction as its first direct capitalization table position in OpenAI.
Expansion Into Autonomous Transportation and Nuclear Power
ARK’s ARKQ vehicle purchased 230,000 shares of Kodiak AI, an enterprise specializing in autonomous freight transportation and artificial intelligence-driven logistics solutions. The firm simultaneously acquired approximately 56,000 shares of Oklo[[/LINK_END_3]], an emerging nuclear energy company developing next-generation fission reactor technology.
DoorDash represented another strategic addition, with ARK increasing its consumer technology platform exposure through the on-demand food delivery service.
Within the genomics sector, ARK’s ARKG vehicle accumulated over 16,000 shares of Arcturus Therapeutics, a biotechnology firm focused on RNA-based therapeutic development. ARK also purchased 39,000 shares of GeneDx, a genetic diagnostics and precision medicine enterprise, distributed between ARKG and ARKK funds.
Portfolio Reductions: Strata, Teradyne, and Pinterest Among Exits
Regarding divestments, ARK’s most significant reduction by share volume involved Strata Critical Medical. The firm liquidated 745,000 shares valued at roughly $3 million.
ARK additionally decreased its allocation in Veracyte, a molecular diagnostics company, and scaled back semiconductor testing equipment manufacturer Teradyne. Social media platform Pinterest, Discovery, and Japanese internet conglomerate LY Corp also faced position reductions.
Wood has repeatedly articulated her anticipation of a “great acceleration” in worldwide economic expansion fueled by artificial intelligence adoption. She projects AI model training expenses are declining 75% annually while inference computing costs are decreasing between 85% and 98% per year.
ARKK has contracted approximately 12% year to date, while the S&P 500 has declined 3.8%. The flagship fund has recorded $1.2 billion in net capital outflows throughout the past twelve months.
CoreWeave concluded trading at $82.24 on April 2 and has appreciated 15% since the beginning of the year.
