ARK Invest Doubles Down on AI Infrastructure with CoreWeave and OpenAI Stake

CoreWeave, Inc. Class A Common Stock, CRWV

CoreWeaves 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

ARKs 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, ARKs 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, ARKs 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.