Cathie Wood Invests $19.2 Million in CoreWeave Amid Volatile Market Conditions
On September 17, Cathie Wood's Ark Investment Management purchased $19.2 million worth of shares in AI-focused company CoreWeave (CRWV), reversing a recent sale just three days earlier on September 14. Wood has long been known for her aggressive bets on high-growth tech stocks such as those involved in artificial intelligence, blockchain, and robotics. While the Ark Innovation ETF (ARKK) delivered strong returns of 35.49% last year compared to the S&P 500's 17.88%, it has struggled with volatility over a five-year period, posting an annualized return of -6.32%. Despite this, Wood remains bullish on AI and its potential for driving productivity and economic growth. The recent purchase highlights her continued confidence in the sector despite market skepticism. Over the past year through September 17, ARKK experienced $1.55 billion in net outflows as some investors remain wary of the fund's performance.
Topics: AI stock purchase ARKK Cathie Wood CRWV