Cathie Wood and her Ark Invest funds kept purchasing uranium refiner Cameco on Monday, even as nuclear-related stocks dropped broadly lower in the shake-up caused by China's private DeepSeek AI startup, and followed it up with another buy on Tuesday.
Wood's ARK Autonomous Tech ETF picked up 31,548 shares of CCJ on Monday even as Cameco dropped 15% during market action, falling below its 200-day moving average. Cathie Wood then purchased 1,027 more shares on Tuesday with CCJ gaining 2.3% to 48.60.
Ark Invest started adding Cameco last Tuesday when it unloaded 50,333 shares of Oklo — the nuclear-power startup backed by OpenAI head Sam Altman — while purchasing 17,504 shares of CCJ, according to daily trade disclosures.
Wood followed that up by buying another 1,500 shares of Cameco on Friday. The nuclear sector broadly gained ground last week after President Donald Trump announced that Altman's OpenAI, SoftBank and Oracle are planning a joint venture called Stargate, to build data centers and other AI infrastructure in the U.S., with investments of up to $500 billion.
Cameco gained 8.5% last week but quickly erased that advance with Monday's decline.
CCJ shares edged up 0.9% to 49.03.
Cathie Wood: Cameco Bet
Wood kept buying Cameco during Monday's market action, as nuclear stocks swooned. DeepSeek's release of a powerful artificial intelligence program that it claims cost just $5.6 million to build marked a possible paradigm shift. DeepSeek implies a more efficient route to AI development, rather than the massive levels of investment by technology industry giants in energy and AI infrastructure.
Saskatchewan, Canada-based uranium refiner Cameco is one of the world's largest providers of uranium. Utilities around the globe rely on the company to provide nuclear fuel. The company also has direct exposure to small modular reactor, or SMR, technology through its shared ownership of Westinghouse.
Meanwhile, Kazatomprom, the Republic of Kazakhstan's national operator for the import and export of uranium and one of the world's top uranium producers, reported Q4 operations results Monday. The company saw Q4 uranium production grow 12% compared to a year ago and kept production guidance for 2025 unchanged.
Kazatomprom also announced that its joint venture with Cameco, known as JV Inkai, has resumed mining operations after temporarily suspending production on Jan. 2 due to regulatory red tape.
Cameco holds a 40% interest in Inkai while Kazatomprom has a 60% stake.
Cameco stock has a 42 Composite Rating out of a best-possible 99. The stock also has a 37 Relative Strength Rating and a 27 EPS Rating.
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