Cathie Wood, CEO of Ark Investment Management, has made significant stock purchases, notably acquiring $22.8 million in Meta Platforms and increasing her stake in CoreWeave amid its share decline.
Major Investment in Meta Platforms
On July 9, 2026, Ark’s funds purchased 34,080 shares of Meta Platforms at a closing price of $669.21, resulting in a total investment of approximately $22.8 million. This move came as Meta's stock rose significantly, with a 14.8% increase in the five days prior to the purchase. Following the acquisition, Meta shares experienced an additional 6% surge on July 10, marking their highest level since April.
The stock rally was bolstered by Meta's announcement regarding the sale of excess AI computing capacity, which could potentially create a new revenue stream for the company. Additionally, Meta launched Muse Spark 1.1, an AI coding model aimed at competing with products from Anthropic and OpenAI. However, despite the recent gains, Meta's year-to-date performance shows only a modest increase of about 1.4%, contrasting the Nasdaq Composite's rise of around 13%.
Continued Support for CoreWeave
Simultaneously, Wood has been acquiring shares in CoreWeave, a cloud computing firm focused on AI, where the stock has dropped 23% since June 18. Currently, Ark's flagship ETF holds 1.6 million shares of CoreWeave, valued at around $146 million, making it the 17th-largest holding in the $6.5 billion ARKK portfolio. Recent purchases by Wood include $811,600 on July 8, following a $2 million buy on July 7 and a $6.5 million acquisition on June 29.
In Q1 2026, CoreWeave reported revenue of $2.1 billion, reflecting a 114% year-over-year increase, but also indicated a net loss of $740 million and significant debt of around $35 billion. The company has increased its capital expenditure forecast for the year to between $31 billion and $35 billion.
This material is for informational purposes only and should not be considered financial advice.
