Cathie Wood and her Ark Invest funds loaded up on CrowdStrike (CRWD) stock Friday and Monday as shares have tumbled following an update glitch that caused a global IT outage, causing massive global disruptions. Meanwhile, Wood also continued to build a position in Oklo (OKLO), the nuclear power startup backed by OpenAI head Sam Altman.
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Daily trading disclosures showed Ark Next Gen Internet (ARKW) and Ark Fintech Innovation (ARKF) purchased 20,219 CrowdStrike shares on Monday for $5.33 million, based on CRWD stock's closing price of 263.91. On Friday, Wood bought 38,595 CrowdStrike shares for $11.77 million.
Meanwhile, Ark Autonomous Tech (ARKQ) fund scooped up 8,400 Oklo shares Monday for $75,684. Wood purchased Oklo stock twice last week, buying 214,461 shares on July 16 for $1.89 million and then adding 15,505 shares on Friday for an estimated $133,498.
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Wood also sold Tesla (TSLA) in consecutive trading sessions, unloading 14,859 shares on Monday and 17,707 on Friday. Tesla reports second-quarter earnings and revenue after the market closes on Tuesday.
CrowdStrike shares angled up 1.9% to 268.88 during market action on Tuesday. The stock sank 13.5% to 263.91 on Monday amid a ratings downgrade and price target reductions. The stock declined more than 11% on Friday, though it found support at its 200-day line.
Tesla stock fell 2% Tuesday after increasing more than 5% on Monday. TSLA shares dropped 4% to 239.20 on Friday.
Meanwhile, Oklo stock jumped 2.5% Tuesday after advancing 4.7% to 9.01 Monday. The stock jumped 1.7% on Friday. Oklo stock has been anything but highflying, with its shares trading below their IPO price of 10.
Cathie Wood Eyes Oklo And Energy Demand
Artificial intelligence — and the data centers needed to train the systems — are expected to boost energy demand throughout this decade. In the U.S., McKinsey & Co. projects that data center energy demand will grow around 10% every year through 2030.
Additionally, in 2022, the 2,700 U.S. data centers consumed around 4% of the country's total electricity generated, according to the International Energy Agency. The agency projects that by 2026, such centers will make up 6% of electricity use.
Many technology companies are investing in or partnering with nuclear power providers to ensure energy supplies for their data centers.
Santa Clara, Calif.-based Oklo agreed in May to supply data centers being developed by Wyoming Hyperscale with 100 megawatts of clean power for the next 20 years.
Oklo — which has yet to deliver an operating, commercial reactor — is also working on advanced fuel-recycling technologies. It works in collaboration with the U.S. Department of Energy and U.S. National Laboratories. Altman, the OpenAI CEO, serves as Oklo chairman and has since 2015.
Oklo, confident that federal regulators will approve its Aurora powerhouse project, says it is on track to first deploy energy in 2027. The company says more deals are in the pipeline and it has "tremendous uptake of customer interest."
Oklo stock has a 15 Composite Rating out of a best-possible 99. Shares have a 11 Relative Strength Rating and a 1 EPS Rating.
Please follow Kit Norton on X @KitNorton for more coverage.
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