Ark Invest buys 192,566 CoreWeave shares as the AI cloud stock slides

Cathie Wood is shopping again. On October 15, Ark Invest bought 192,566 shares of CoreWeave (CRWV), the AI cloud infrastructure company whose stock has spent the past year going mostly in one direction. That direction is down. Ark is betting the drop is an opportunity, and it is not the first time this week the firm has made that bet. Two days, two buys The October 15 purchase came one day after Ark reportedly picked up approximately 188,665 CoreWeave shares on October 14. That earlier trade ran through Ark’s ARKK and ARKW exchange-traded funds. At a closing price of $65.78, the October 14 buy was valued at about $12.4 million. Some reports put the figure closer to $14.7 million, so the exact tally depends on who is doing the math. The timing was not random. CoreWeave stock fell 15.5% on October 14, and Ark stepped in on the same day the market was heading for the exits. That slide was tied to two things landing at once. First, adverse US inflation news rattled investors. Second, worries about CoreWeave’s substantial debt load resurfaced. Put those together and you get a stock that is down 53% year-over-year as of mid-October. The debt problem in plain numbers CoreWeave’s balance s...