TLDR
- Cathie Wood purchased 34,080 shares of Meta Platforms worth $22.8 million on July 9, 2026
- Wood’s Ark funds have also added over 100,000 CoreWeave shares in recent weeks, totalling a ~$146 million stake
- Meta stock jumped 6% on July 10 after announcing plans to sell excess AI computing capacity
- CoreWeave stock has dropped 23% since June 18, falling from $118 to around $90 per share
- ARKK has delivered a five-year annualized return of -8.42%, lagging the S&P 500’s 11.63% over the same period
Cathie Wood, CEO of Ark Investment Management, made two major stock moves this week — adding to her position in Meta Platforms and continuing to buy shares in struggling AI infrastructure company CoreWeave.
Wood Adds $22.8 Million in Meta Stock
On July 9, Ark’s funds purchased 34,080 shares of Meta Platforms at a closing price of $669.21, bringing the total value of that purchase to roughly $22.8 million.
The buy came as Meta stock was already climbing. Over the five days leading up to the purchase, Meta had risen 14.8%.
On July 10, Meta shares jumped another 6%, hitting their highest level since April. The rally followed Meta’s announcement that it plans to sell excess AI computing capacity — a move that could open a new revenue stream for the company.
Meta also launched Muse Spark 1.1 on July 9, an AI coding model that competes with tools from Anthropic and OpenAI. BNP Paribas analyst Nick Jones called it Meta’s first paid AI model, which gives the company a new way to make money from its AI products.
Despite the recent gains, Meta stock is still only up about 1.4% year to date, compared to the Nasdaq Composite’s roughly 13% rise. CEO Mark Zuckerberg acknowledged earlier this month that the company’s AI agent rollout has been slower than expected.
Meta expects to spend up to $145 billion on AI infrastructure in 2026. The company reports second-quarter earnings later this month. In Q1, Meta posted earnings per share of $7.31 on revenue of $56.31 billion, beating estimates on both counts.
Wells Fargo analyst Ken Gawrelski raised his price target on Meta to $767 from $765 on July 2, maintaining an overweight rating.
Wood Keeps Buying CoreWeave as Stock Falls
At the same time, Wood has been steadily buying shares of CoreWeave, an AI cloud computing company whose stock has fallen 23% since June 18.
Ark’s flagship ETF now holds 1.6 million CoreWeave shares — a stake worth around $146 million, making it the 17th-largest holding in the $6.5 billion ARKK portfolio.
Wood bought $811,600 in shares on July 8, following a $2 million purchase on July 7 and a $6.5 million buy on June 29.
CoreWeave posted revenue of $2.1 billion in Q1 2026, up 114% year over year. Its backlog reached nearly $100 billion. But the company reported a net loss of $740 million and carries roughly $35 billion in debt.
Capital expenditure guidance for the full year was raised to $31–$35 billion. The company targets $12–$13 billion in full-year revenue.
Part of the stock’s recent drop came after news broke that Meta — CoreWeave’s largest customer — is looking to sell its own excess computing capacity, potentially competing with CoreWeave directly. The stock fell 14% on that news alone. Wood bought shares after the announcement.
ARKK is up 3.05% year to date, while the S&P 500 is up 10.66% as of July 10.
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