Cathie Wood’s ARK Invest ETFs (exchange-traded funds) made notable portfolio adjustments on Wednesday, April 1, as shown in ARK’s daily fund disclosures. Interestingly, Wood has steadily raised ARK’s stake in cloud infrastructure firm CoreWeave (CRWV), even at its sky-high valuation. CRWV trades at an EV/Sales multiple (enterprise value-to-sales) of 13x, significantly higher than the sector average of 3.13x.
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CoreWeave commands this premium because it specializes in GPU-optimized cloud computing for AI workloads. It capitalizes on explosive demand from hyperscalers like Microsoft (MSFT) and OpenAI. Nvidia (NVDA) GPU shortages could last into 2026, but CoreWeave’s integrated setup, owning data centers and locking in supply contracts, makes it a top growth pick in a multi-billion-dollar market.
The ARK Innovation Fund (ARKK) bought 15,419 CRWV shares for roughly $1.21 million. ARKK also acquired 26,515 shares for about $2.05 million on March 31.
Other trades included buying shares of GeneDx Holdings (WGS), Kodiak AI (KDK), Oklo (OKLO), and Arcturus Therapeutics (ARCT). Meanwhile, Wood sold 77,448 shares of Strata Critical Medical (SRTA), a provider of urgent logistics and medical services to U.S. healthcare providers.
Should You Buy CoreWeave Stock?
Shares rose 1.25% yesterday, following a 12% jump in the previous session. The gain came after the company announced it had secured an $8.5 billion financing deal backed by its GPU infrastructure. The deal gives CoreWeave access to a new investment-grade funding structure. This is the first time such financing has been secured using high-performance computing (HPC) infrastructure tied to a customer contract.
Analysts remain divided on CoreWeave’s long-term potential. On TipRanks, CRWV stock has a Moderate Buy consensus rating based on 13 Buys, nine Holds, and one Sell rating. The average CoreWeave price target of $114.20 implies 45.6% upside potential from current levels. Year-to-date, CRWV shares have gained 9.5%.
