Cathie Wood just dropped a head-turning $3.46 million bet on CoreWeave (CRWV) stock just days before a critical earnings report.
ARK Invest scooped up 35,612 shares of the popular Nvidia-backed AI cloud giant on Feb. 20, according to daily disclosures.
It’s important to note that CoreWeave is set to report its Q4 fiscal 2025 results after the market closes on Feb. 26.
Moreover, the report comes at a sluggish stretch for the AI cloud player, with its stock remaining in the red over the past few months.
Nevertheless, the relevance of what CoreWeave offers cannot be discounted.
Building out the computing power that’s needed for AI is far from cheap, and most businesses just can’t do it alone.
That’s exactly where CoreWeave comes in.
It builds high-powered cloud systems tailored for AI and leases that capacity to clients who prefer to outsource infrastructure rather than build and maintain it themselves.
Nevertheless, the correction in tech hasn’t shaken Wood’s resolve. She has built a powerful reputation for leaning into volatility when high-growth tech stocks start wobbling.
In fact, less than a week ago, I wrote about ARK buying nearly $8 millionof Broadcom stock and roughly $6 million of AMD stock, underscoring her willingness to continue loading up on AI giants.
CoreWeave is another tech stock that’s been under considerable duress, even with Nvidia (NVDA) deepening its ties to the company.
For perspective, Nvidia unveiled a $2 billion investment in CoreWeave at $87.20 per share, boosting its stake by about 23 million shares and making it the company’s second-largest shareholder, per Reuters.
Also, that ownership stake deepens an already tight relationship where essentially CoreWeave’s entire business is built around the deployment of Nvidia GPUs at scale for its AI customers.
Hence, the upcoming earnings report becomes all the more crucial.
If CoreWeave delivers strong top-and-bottom-line expansion, Wood’s pre-earnings move looks a lot more prescient.
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CoreWeave: Bought 35,612 shares valued at $3.46 million.
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Figma: Bought 338,299 shares valued at $8.7 million.
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Recursion Pharmaceuticals: Bought 758,015 shares valued at $2.82 million.
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CRISPR Therapeutics: Bought 20,830 shares valued at $1.14 million.
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Kodiak AI: Bought 9,469 shares valued at $83,000.
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Brera Holdings: Bought 4,187 shares valued at $4,500.
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DraftKings: Sold 468,703 shares valued at $10.5 million.
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PagerDuty: Sold 249,341 shares valued at $1.67 million.
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Pinterest: Sold 5,949 shares valued at $100,000.
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Discovery Ltd.: Sold 27,173 shares for a small undisclosed amount.
CoreWeave reports Q4 and full-year fiscal 2025 results after the close on Feb. 26, and as discussed earlier, this earnings release carries more weight than usual.
A big part of the earnings call for investors will be to provide more clarity on financing conditions, including the status of mega projects following recent Blue Owl-related noise.
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Moreover, updates will be needed on power and capacity, with CoreWeave reporting 590 megawatts of active capacity in Q3, which has raised expectations for a substantial step-up.
At the same time, the debate over relentless AI spending continues, and the report could offer clarity on whether it represents a durable, long-term buildout or a boom that could cool if things go south.
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FQ3 2025 (Sep 2025):
EPS: -0.08 (beat by +0.27) Revenue: $1.36 billion (beat by +$79.65 million) Source: Seeking Alpha -
FQ2 2025 (Jun 2025):
EPS: -0.27 (miss by -0.06) Revenue: $1.21 billion (beat by +$131.41 million) Source: Seeking Alpha -
FQ1 2025 (Mar 2025):
EPS: -0.61 (miss by -0.49) Revenue: $981.63 million (beat by +$121.86 million) Source: Seeking Alpha -
FQ4 2025 earnings report (analyst estimates)
Earnings date: Feb. 26, 2026 (post-market) EPS (normalized) estimate: -$0.49 EPS (GAAP) estimate: -$0.68 Revenue estimate: $1.53 billion EPS revisions (last 90 days): 2 upward, 2 downward Source: Seeking Alpha
CoreWeave’s long-term bull case is simple.
For the company to continue its ascent, AI demand needs to keep soaring, and it needs to build out enough data-center capacity to effectively match that demand.
However, simple stories can get a lot more dicey when billions of dollars are involved.
Just this past week, reports tied to Nvidia’s whopping $6 billion Pennsylvania data-center project (with CoreWeave at its center) raised questions after its partner, Blue Owl, sought roughly $4 billion in debt financing, Reuters reported.
Moreover, some lenders reportedly hesitated, particularly due to CoreWeave’s B+ credit rating. Though the company said that the project remains on track, its stock got hammered.
On top of that, there’s plenty of money involved.
CoreWeave secured a $2.6 billion debt facility last July, following a $1.75 billion senior notes offering. Fitch flagged the aggressiveness of the buildout, with capex forecast at around $13 billion in fiscal 2025 and $19 billion in fiscal 2026.
Also, there’s a concentration risk for investors to think about with CoreWeave. An estimated 77% of 2024 sales accrued to its top two customers, with Microsoft alone accounting for 62%.
Throw in CEO Michael Intrator’s $11.6 million in year-end stock sales, as reported by Investing.com, and it’s not hard to see why sentiment has soured of late.
Related: Howard Lutnick’s Cantor buys $126 million of surprising AI stock
This story was originally published by TheStreet on Feb 24, 2026, where it first appeared in the Investing section. Add TheStreet as a Preferred Source by clicking here.