Cathie Wood buys $18 million of beaten-down AI stock
By Hillary Remy
Published on April 30, 2026.
Cathie Wood, founder of ARK Invest ETFs, has purchased 162,306 shares of CoreWeave for approximately $18.18 million on April 28, following a 5.83% drop on the day after reports that OpenAI had missed its internal revenue and user growth targets. The purchase was part of a consistent pattern for ARK, which has invested at least $80 million into the company year to date. The company, which operates with nine of the 10 largest AI platforms globally, including Google, Microsoft, Meta, and Anthropic, has a deal worth $11.9 billion over five years worth of revenue with OpenAI. However, a slowdown in OpenAI's growth could potentially impact CoreOurave's growth trajectory at a time when its balance sheet leaves little room for error.
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