Cathie Wood Snaps Up CoreWeave Shares After Stock Tumbles 11% on Revenue Guidance

Table of Contents Cathie Wood’s ARK Invest acquired $12.9 million in CoreWeave shares on May 8, merely days following the sale of approximately $25 million worth of identical stock at elevated valuations. CoreWeave, Inc. Class A Common Stock, CRWV ARK disposed of 198,572 CoreWeave shares between May 4 and May 5 at prices ranging from $125 to $127. Subsequently, following an 11% decline to $114.15 on May 8, ARK repurchased 113,076 shares. The selloff occurred after CoreWeave unveiled its quarterly financial results on May 7. The AI infrastructure provider reported revenue of $2.08 billion, surpassing analyst expectations of $1.97 billion and representing more than double the $981.8 million recorded in the prior year. However, CoreWeave’s forward-looking guidance for Q2 fell short of Wall Street’s expectations. Management forecast Q2 revenue between $2.45 billion and $2.6 billion. The midpoint of this projection came in below the Street’s consensus estimate of $2.69 billion. Despite the near-term disappointment, CoreWeave reaffirmed its full-year 2026 revenue guidance of $12 billion to $13 billion. Chief Executive Officer Mike Intrator highlighted that the organization has achieved “hyperscale” status, securing more than 3.5 gigawatts of contracted power capacity. Bank of America maintained its buy recommendation on CoreWeave with a $140 price target. The firm’s analysts attributed the conservative near-term outlook to data center deployment schedules rather than weakening customer demand. Notwithstanding the recent pullback, CoreWeave shares have surged approximately 60% since the beginning of the year. The company operates GPU-accelerated data centers utilizing Nvidia chips, serving major clients including Google and Microsoft. Beyond the CoreWeave transactions, ARK executed numerous portfolio adjustments throughout the week. The investment firm purchased over 245,000 GeneDx shares, representing approximately $15 million, strengthening its genomics sector allocation. ARK simultaneously increased positions in Tempus AI, Kodiak AI, Kratos Defense, L3Harris, and nuclear energy firm X-Energy. Regarding portfolio reductions, ARK’s largest divestiture measured by dollar value involved AMD, with the firm selling over 121,000 shares totaling nearly $46 million. The organization also disposed of 187,000 Rocket Lab shares worth $18 million and reduced exposure to Aurora Innovation and Teradyne. Wood’s ARK Innovation ETF has demonstrated volatile performance over recent years. The fund delivered a remarkable 153% return in 2020, followed by a devastating decline exceeding 60% in 2022. During 2025, it rebounded with a 35.49% gain. Year-to-date in 2026, the fund is up approximately 1.61%, significantly lagging the S&P 500’s advance of over 8%. Examining the five-year period ending May 7, the ARK Innovation ETF posted an annualized return of -6.17%. By comparison, the S&P 500 generated 13.45% annually during the identical timeframe, according to Morningstar data. Investor sentiment toward the fund has cooled considerably, with $1.32 billion in net redemptions over the trailing 12 months through May 7, including $252 million in outflows during the past month alone. Wood maintains an optimistic outlook, projecting that AI and emerging technologies will propel global GDP growth to 7–8%. She characterizes the present environment as a “great acceleration” rather than an economic contraction.