Meta's $21 Billion CoreWeave Deal Validates a Pre-Existing Price Rally
CoreWeave stock has surged over 30% from recent lows, reclaiming key levels and pushing higher. The rally began before the announcement of a $21 billion agreement from Meta for AI cloud capacity through 2032. Meta's total spending with the company now exceeds $35 billion. ARK Invest bought $2.0 million of CRWV on March 31 and $1.2 million on April 1, prior to the latest surge. ARK Invest's stake of approximately 41,000 shares is now worth roughly $3.7 million. Cathie Wood's ARK Invest recorded a $500,000 gain in days.
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