Cathie Wood’s ARK Investment Management bought 239,083 shares of CoreWeave on September 17, 2026, spending roughly $19.1 million to $19.9 million across its ARKK and ARKW ETFs after the AI infrastructure company’s stock dropped on a $3 billion capital raise plan.
CoreWeave shares fell 4.2% to $79.88 on September 17, while the Nasdaq rose 1.7%. The decline followed the company’s announcement that it plans to raise $3 billion through convertible senior notes, with a possible $500 million expansion. CoreWeave also launched an at-the-market program to sell up to 35 million Class A shares, fueling dilution concerns. The stock is down 56% from its June 2025 high and remains below its 50-day and 200-day moving averages of $85.23 and $94.04.
ARK’s ARKK ETF received 191,868 shares, while ARKW added 47,215 shares. The purchase continues ARK’s pattern of adding AI infrastructure positions during weakness. CoreWeave reported strong demand: more than $25 billion in new customer commitments early in Q3 2026, contracted power of about 4.2 gigawatts as of August 11, and short-term compute contracts at annualized rates near $40 million per megawatt. Q2 revenue rose 112.5% year over year to $2.58 billion.
Wall Street remains broadly positive. Rosenblatt Securities reiterated a Buy rating with a $250 price target, implying over 212% upside. Baird, Truist and Wells Fargo also raised targets, though Jefferies downgraded to Hold in July. CoreWeave carries a 5.53 debt-to-equity ratio and negative margins. Meanwhile, insiders sold about $630 million in stock over 90 days, including sales by Magnetar Financial and CEO Michael Intrator.
