Overview
- ARK Invest disclosed the purchase of 350,734 CoreWeave shares for roughly $24 million as the stock continued to decline.
- CoreWeave shares have fallen about 42% over the past month, including a roughly 22% drop across five recent sessions following the outlook change.
- Management now forecasts 2025 revenue of $5.05–$5.15 billion, attributing the reduction to a timing delay at a single third-party data-center developer, reported by media as CoreScientific.
- Despite the guidance trim, Q3 sales increased by about $1.36 billion year over year with narrower losses, and the contracted backlog rose to roughly $55.6 billion.
- Nvidia holds 24.28 million CoreWeave shares and maintains a $6.3 billion take-or-pay capacity deal through 2032; ARK also added crypto and biotech positions and 93,374 Nvidia shares while trimming GitLab, Exact Sciences, Iridium and a small amount of AMD.