Cathie Wood buys $16 million in AI stock, dumps $10 million

What happened

ARK Invest bought 283,022 CoreWeave shares for about $16 million and sold 58,339 Palantir shares valued at almost $10 million. The trades followed a volatile week for both stocks, as CoreWeave reported sharply higher quarterly revenue and raised its 2026 revenue outlook.

Confirmed

Global impact / market context

ARK’s shift adds to its exposure to AI infrastructure through CoreWeave while reducing its Palantir holding. CoreWeave’s growth and large backlog could support future sales, but its planned $37 billion to $39 billion in capital spending creates a substantial cash requirement as it expands data centers.

Analyst inference

The article reports strong recent sales and a higher 2026 outlook for CoreWeave, alongside a 168% year-over-year revenue increase. Yet its shares fell about 7% after a near-25% Wednesday jump, while Palantir has declined around 18% in a month amid valuation worries.

Confirmed

What to watch

1. Watch whether CoreWeave converts its reported $132.5 billion committed backlog into revenue; this would show whether customer commitments translate into actual business income. Analyst inference
2. Track whether CoreWeave’s expected $37 billion to $39 billion in 2026 capital spending remains manageable as it builds data centers and pursues its revenue outlook. Analyst inference
3. Observe whether Palantir’s reported sales growth eases valuation concerns, given the article’s account of an approximately 18% share-price decline over the previous month. Analyst inference

Evidence

• gurufocus.com