Cathie Wood Makes a Big AI Bet and Cuts Bitcoin Exposure

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. Warning! GuruFocus has detected 5 Warning Sign with AMZN. Is ARKK fairly valued? Test your thesis with our free DCF calculator. 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.