Matt Allen
Founder & CEO of Bean Research/BeanWealth, Growth Stocks
CoreWeave is securing power and capacity in India, one of the fastest-growing AI markets, before demand fully arrives. It will be sole tenant of 240 MW at AdaniConneX's Navi Mumbai campus, three 80 MW buildings for high-density AI, with an option for another 240 MW. It plans to deploy NVIDIA Vera Rubin there, with the first phase expected online in mid-2028. x.comÂ
CoreWeave's demand is so strong that customers pay premium prices for immediate AI compute and commit to old chips years ahead. It signed 3-to-6-month contracts at about $40M of annualized revenue per MW, added over $25B of new customer commitments early in Q3, and grew contracted power from 3.7GW to 4.2GW in about six weeks. It also signed a contract for Nvidia A100s, released in 2020, running through 2029. x.comÂ
CoreWeave looks positioned to be one of the biggest beneficiaries of years of demand for GPU computing at scale. It should be one of the most important players in the AI infrastructure buildout, with Jensen Huang and Nvidia deeply tied to it. At $50 a share, its debt load is not a concern; the stock could look like one of the best buying opportunities by decade-end. x.com x.comÂ
CoreWeave's results show power and capacity are the binding constraint in AI cloud, with Blackwell and Vera Rubin pricing and margins setting new highs. Q2 revenue was $2.58B against $2.56B expected, adjusted EBITDA margin was 59%, and full-year 2026 revenue guidance moved to $12.4-13.2B. Backlog hit $104B, excluding more than $25B of early-Q3 commitments. Active power expanded to 1.5GW and contracted power to about 3.7GW. x.comÂ
CoreWeave's financing looks more vulnerable amid a debt-market pullback for AI-data-center-dependent companies. Elon Musk says access has almost entirely shut off in recent weeks for firms without substantial revenue outside AI data centers, and expects few of the 200-plus neoclouds to survive consolidation. x.comÂ
Rising GPU rental rates and Anthropic's compute margins challenge claims of collapsing demand for CoreWeave's capacity. The WSJ reported Anthropic's first-half revenue of $16.3B against $9B in compute and infrastructure spending; Bloomberg reported its Q3 compute margin above 40%. Long contracts and fully amortizing loans cushion demand declines but cap upside. Despite the challenging neocloud model, CoreWeave's risk/reward is by far the best and its quality well ahead of peers. x.com x.com … Show more
CoreWeave is flagged as a bullish setup, though the posts give no stated reason beyond the charts they share. x.com x.comÂ
CoreWeave's $104.2B of RPO, plus $25B from a new Q3 customer, will require at least 3GW of active data centers, or $150-180B of buildout, a heavy load for its debt holders and investors. The fallback may be Nvidia financing the data centers and GPUs in exchange for CoreWeave cloud credits, with CoreWeave serving as Nvidia's most important independent SPV. x.comÂ
CoreWeave rents Nvidia GPUs at scale to everyone building AI, giving it pure leverage to AI demand. x.comÂ
Core Scientific is positioned for the AI capacity shortage as AI companies and labs race to lock in capacity years ahead. It leases compute to CoreWeave and signed an AMD deal for up to 2.5GW of future capacity. AI cloud backlogs have passed $150 billion, and one provider said it could sell out its 2027 capacity at today's terms. x.comÂ
IREN's owned land, power infrastructure and data centers should retain value even if hyperscalers' own chips compress GPU-leasing margins. Enterprise AI-compute demand is enormous, while most enterprises will not build their own data centers, as Palo Alto Networks CEO Nikesh Arora noted. CoreWeave faces a bigger long-term risk because it relies heavily on third-party infrastructure. x.comÂ
CoreWeave benefits because demand for compute is growing faster than capacity can be brought online. x.comÂ
