Over the years, ARK Invest CEO Cathie Wood has earned a reputation as an investor who is deeply interested in emerging technologies such as cryptocurrencies and artificial intelligence (AI).
Over the years, ARK Invest CEO Cathie Wood has earned a reputation as an investor who is deeply interested in emerging technologies such as cryptocurrencies and artificial intelligence (AI). Her latest bet on CoreWeave, Inc. (Nasdaq: CRWV), shows her sticking to the conviction that AI infrastructure will be one of the defining growth stories in the next few years.
Wood once revealed that her firm was the first public asset manager to gain Bitcoin (BTC) exposure in 2015. The leading cryptocurrency wasn't worth even $500 back then and traditionalists would sharply criticize the investment.
Even though BTC is currently trading around $82,000 — much lower than the peak above $126,000 it hit a year ago — it's still far above the 2015 price and Wood's bet seems to have paid off.
How Cathie Wood became one of crypto’s earliest believers (3:41)As per StockCircle, two of ARK Invest's biggest holdings are Elon Musk's Tesla (Nasdaq: TSLA) and SpaceX (Nasdaq: SPCX).
While Tesla uses AI across its vehicles and robotics programs, SpaceX uses the technology across its spaceflight systems and satellite networks.
Both the companies are among the world's largest Bitcoin holders too. Tesla and SpaceX hold 11,509 and 18,712 BTC respectively.
These investments reflect Wood's deep belief in both AI and crypto.
Related: Cathie Wood sends bullish Bitcoin response to 'dead cat' warning
StockCircle data shows that Robinhood Markets (Nasdaq: HOOD) is also among ARK Invest's biggest holdings.
Robinhood is a commission-free e-brokerage platform that is extremely popular among young retail traders. It lets users buy and sell stocks, options, cryptocurrencies, and tokenized equities from a single app.
The Robinhood logo on a laptop cpmputer arranged in the Brooklyn borough of New York, US, on Monday, May 8, 2023.
Getty Images
The company's senior vice president and general manager of crypto and international, Johann Kerbrat, just disclosed that the company recently added approximately $25 million worth of Bitcoin to its corporate balance sheet.
But ARK decided to trim its stake in the e-brokerage. The investment firm sold 63,446 HOOD shares worth $7.1 million on Oct. 6 and 151,903 HOOD shares worth $16.6 million on Oct. 7.
The HOOD stock is down 28% over the last year and has lost 7% of its value in the last month. It was trading at $108.20 at the time of writing.
ARK Invest decided to accumulate more shares of CoreWeave, Inc. (Nasdaq: CRWV). Wood's investment firm bought 97,639 CRWV shares worth $8.9 million on Oct. 6 and 214,589 CRWV shares worth $18.9 million on Oct. 7.
CoreWeave started out as a crypto miner but switched gears and turned into an AI engine in the hope of a larger and more stable revenue stream.
While crypto mining remained a very profitable venture for years, the lower prices, higher power costs, and reduced rewards over the past few years made it far less profitable. And the AI boom was far more lucrative.
Companies like CoreWeave already had a ready data infrastructure, and they didn't take long to make the pivot.
The CoreWeave logo arranged on a laptop in Forest Hills, New York, US, on Friday, April 10, 2026.Getty Images
CoreWeave buys or leases NVIDIA’s (Nasdaq: NVDA) AI GPUs, builds data centers around them, and rents out computing capacity to Big Tech clients such as Microsoft (Nasdaq: MSFT), Alphabet's (Nasdaq: GOOG) Google, Anthropic, and OpenAI.
The AI company also announced yesterday that it is entering the Indian market through a collaboration with AdaniConneX.
The CRWV stock is down 40% over the last 12 months and is down 15% this month. It was trading at $84.15 at the time of writing.
Related: Elon Musk takes direct aim at Indian billionaire Mukesh Ambani
