ARK Invest Stands Firm Amid Tech Downturn with Investments in AI and Cryptocurrency
- ARK Invest bought CoreWeave and Circle shares, divesting GitLab , focusing on AI infrastructure and crypto amid market declines. - CoreWeave's $9B acquisition of Core Scientific boosts its AI data center capacity, with ARK accumulating shares for long-term growth. - ARK's crypto buys, including Circle and Bullish, align with its bullish stance on digital assets despite Bitcoin's $87,000 dip. - GitLab divestment reflects skepticism about tech sector resilience, contrasting ARK's AI/crypto bets amid broade
Cathie Wood's
The rationale behind ARK's investment in CoreWeave is further strengthened by the company's recent
ARK also made notable moves in the crypto space. The fund increased its holdings in Circle, the stablecoin provider, and Bullish (NYSE: BLSH), a crypto exchange backed by Peter Thiel, as
These trades contrast with ARK's reduction in GitLab holdings. The fund has been steadily decreasing its stake in the software development platform for several weeks,
CoreWeave's shares, which closed at $73.60 on Monday, remain a speculative but potentially rewarding investment. While the company boasts a revenue backlog of over $55.6 billion and analysts expect sales to more than double to $12 billion by 2026,
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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