Cathie Wood Bets $55 Million on CoreWeave’s AI Infrastructure Despite Losses, Debt, and Client Concentration

Cathie Wood’s Ark Invest has purchased over $55 million in CoreWeave shares between February and April 2026, doubling down on a company that lost $1.17 billion in fiscal 2025. The investment reflects a high-stakes bet on AI infrastructure, even as CoreWeave’s financials reveal deepening losses, $10.31 billion in capital expenditures, and $21 billion in debt. Revenue did surge 168% to $5.13 billion, but 77% of 2024 revenue came from just two clients—exposing the company to concentration risk. Wood’s move comes as her flagship Ark Innovation ETF (ARKK) is down 11% year-to-date and has delivered a five-year annualized return of -10.7%, trailing the S&P 500’s 12.2%. Her strategy continues to prioritize long-term disruption in AI, blockchain, and robotics over near-term profitability. Beyond CoreWeave, Wood has acquired stakes in OpenAI, Kodiak AI, and Oklo, betting that collapsing AI training costs will drive demand for autonomous systems and abundant low-carbon power. She now forecasts global GDP growth of 7% to 8%—a level unseen in decades—fueled by AI and next-generation infrastructure.