Ark Invest Shifts Focus to AI, Trims Crypto Exposure

Cathie Wood's Ark Invest made significant changes to its portfolio last week, shifting focus towards AI and healthcare while trimming its exposure to crypto.

The firm added nearly $25 million worth of shares in CoreWeave, a cloud-infrastructure company, making it one of the largest purchases for the week. This move suggests that Ark is betting big on AI infrastructure, with Wood's team likely seeing strong growth potential in this sector.

Ark also invested approximately $7.25 million in Meta Platforms, indicating continued interest in companies poised to benefit from rising AI spending. In contrast, the firm cut exposure elsewhere in technology by selling shares of Advanced Micro Devices, Alphabet, Shopify, and Palantir Technologies, among others.

The crypto sector saw even heavier selling, with Ark unloading 1.53 million shares of its Bitcoin ETF, ARKB, worth roughly $39.8 million, its biggest sale of the week. It also reduced Circle Internet and Coinbase Global, while making a smaller cut to Bullish.