CoreWeave should keep performing well as a key AI infrastructure name: limited computing capacity means demand far outweighs supply, and Nvidia backs it via equity, financial support, or GPU supply agreements. However, financing new projects is a challenge; doubts remain over expansion financing and demand.

This is something we have also seen over the past few days with regard to the company "Corvev" for example. There are doubts about whether this expansion can be continued to be financed, and whether the ultimate demand will meet the high expectations that the market currently has.

Let's talk about "Korfeef" because its movement is certainly interesting. I mean, a 15% drop yesterday. Today we are seeing another drop of more than 5%, which has led to many other emerging cloud names declining along with it as well.

While you look at that, I mean, Korfeef has a large track record of backlogged work. How does CoreWeave balance its backlog of orders with the financing and actual construction of the infrastructure needed to fund and execute those contracts ?

Yes, ultimately, I think that for large new cloud companies like CoreWave, and given the limitations we continue to see in computing capabilities, demand far outweighs supply .

Therefore, I expect a key component of the AI infrastructure chain, such as CoreWave, to continue performing well.

However, this does not mean that financing new projects will not be a challenge for them. Currently, CoreWave is backed by Nvidia, whether through equity investment, financial support, or graphics processing unit supply agreements.

So I expect them to continue performing well, but some of the smaller, newer cloud companies may find their businesses at risk in the coming years.