CoreWeave $CRWV just posted 168% revenue growth and the stock jumped 10% overnight. Sounds like the AI trade is back, right?
Not so fast. Revenue hit $3.66 billion and the backlog is now $132.5 billion, but the company still lost $709 million in the quarter. Interest alone cost $846 million, more than the entire operating income. That is the part the green candles do not show.
The stock had already lost over 40% in a month before this report, so this bounce is coming off a pretty beaten down base. $NVDA and the other AI names caught a lift too, and $BTC is just sitting near $74,000 watching it all happen.
So be honest, is this the start of the AI comeback or just a relief rally before the debt bill comes due again? #CoreWeaveJumps10%On168%RevenueGrowth
Not so fast. Revenue hit $3.66 billion and the backlog is now $132.5 billion, but the company still lost $709 million in the quarter. Interest alone cost $846 million, more than the entire operating income. That is the part the green candles do not show.
The stock had already lost over 40% in a month before this report, so this bounce is coming off a pretty beaten down base. $NVDA and the other AI names caught a lift too, and $BTC is just sitting near $74,000 watching it all happen.
So be honest, is this the start of the AI comeback or just a relief rally before the debt bill comes due again? #CoreWeaveJumps10%On168%RevenueGrowth