This article first appeared on GuruFocus.
Cathie Wood’s Ark Invest made a notable shift inside its technology portfolio last week, adding heavily to CoreWeave while cutting several other AI and technology positions.
Ark bought about 239,000 shares of CoreWeave (CRWV, Financials), the AI cloud infrastructure provider, worth roughly $24.7 million. It also added about $7.25 million of Meta Platforms shares.
The moves came alongside several reductions. Ark sold about $5.9 million of Palantir, $10 million of Advanced Micro Devices, $13.1 million of Alphabet and $6.5 million of Shopify.
That makes the CoreWeave purchase more interesting than a simple portfolio addition. Ark was putting fresh money into one part of the AI infrastructure trade while taking money out of several established technology names.
The firm also made significant changes outside technology. It bought about $8.9 million of Ionis Pharmaceuticals and $9.3 million of Guardant Health while cutting $21.8 million of 10x Genomics.
Its largest single sale was 1.53 million shares of the ARK 21Shares Bitcoin ETF, worth about $39.8 million. Ark also reduced positions in Circle and Coinbase.
The changes give investors a fresh look at where Ark is directing capital across AI, health care and crypto. The next question is whether CoreWeave becomes a larger part of Wood’s portfolio as AI infrastructure spending continues.
