CoreWeave's stock closed down 16.31% after CEO Mike Intrator noted delays at a data center provider that Jim Cramer implied is Core Scientific; CORZ fell 10%+
Welcome to Runtime! Today: An update on our independent journalism mission … Bluesky: Tero Kuittinen / @teroterotero : You must invest in Nvidia because AI chips need to be replaced every 2 years. And also invest in Coreweave, because AI chips last for 10 years. Schrödinger's Chip depreciates fully in 3 years, or 6, or 10. Maybe 5 or 8. It's just a detail, or a quibble. Ed Zitron / @edzitron.com : CoreWeave has basically five customers: OpenAI, Microsoft (mostly OpenAI), Google (renting capacity to rent to OpenAI), Meta, and of course NVIDIA. This has been a huge, obvious problem for a long time and because the markets are stupid it's only just becoming one for traders Gary Marcus / @garymarcus : 👉Softbank sells entire Nvidia position. — 👉Oracle debt downgraded. — 👉Meta financing games revealed. — 👉OpenAI CEO @sama couldn't explain how company would meet its $1.4 T obligations. — 👉Coreweave drops 20% in a week. — You do the math. … Mastodon: Dare Obasanjo / @carnage4life@mas.to : CoreWeave cut its revenue forecast from $5.15B - $5.35B to $5.05B - $5.15B due to delays in getting data center capacity from a vendor. The stock is down -16%. — This highlights both the trend of outsized punishment from investors over relatively small misses and how power & datacenters not chips are now the limiting factor for AI service provider growth. … Forums: r/wallstreetbets : CoreWeave CEO responds to data center delays as stock plunges. Core Scientific shares fall