$CRWV · T3 Live · 2026-11-05
CRWV杠杆过高：估计营收35亿美元、同比增长159%，却远不及约720亿美元负债和510亿美元债务——在770亿美元资产上仅有50亿美元权益，且必须持续借债才能生存——这是一个正在形成的可怕泡沫故事，也是下周财报前AI交易中的牺牲品。
逐段跳播
CoreWeave 的 CDS 现在已经超过15%，而且还在上升。
You know, you the CDS is on uh Core Wever are over 15% now and rising.
我很高兴你提到 CoreWeave，因为 CoreWeave 下周公布财报。Nebius 也是，这两家算是表现最差的两家。
I'm glad you brought up Cororeweave because Cororeweave reports earnings next week. So does uh Nebus um which are you know two of the stinkers.
几乎感觉像是命中注定，人们希望这些公司，尤其是 CoreWeave，成为某种牺牲品。是的。我认为 CoreWeave 和 Nebius 在公司本身和财务状况上算是有点不同的一条船。
我真正担心的是 CoreWeave。CoreWeave 杠杆高到了极点。他们预计营收35亿美元，同比增长159%。但相对于资产负债表上的负债，这根本不够看。那些负债极其庞大，而且他们还必须继续借钱。
所以，如果我没记错的话，他们目前的总负债支出大约在720亿美元。就总债务而言，听着，他们有510亿美元债务，包括长期贷款、可转换贷款和债券。股东权益是50亿美元。总资产770亿美元。
这幅图景哪里不对劲？而且他们必须继续借钱才能生存。这些是正在形成的、令人害怕的泡沫故事。你懂我的意思吧？
And it it it almost feels like destiny that people want these companies especially Cororeweave to sort of be the sacrificial lamps. Yeah. I mean Cororeweave and Nebas are I think a little bit of different boat uh in in terms of companies and financials.
My real concern is Cororee. Uh Cororee uh is overleveraged to the hilt. uh they're estimating $3.5 billion dollars uh of revenue. Uh it's a year-over-year increase of 159 uh uh of 159%.
Uh but they're they're li it comes nowhere close to their balance sheet in terms of the liabilities. Uh they're enormous and they and they still must uh continue to borrow. So, their total total liability spend right now around 72 billion if I remember correctly.
Um, and in terms of total debt, they've got, listen, 51 billion in debt. Uh, and that's long-term loans, convertible loans, and bonds. Um, stockholder equity is 5 billion. Okay.
Total assets 77 billion. What is wrong with this picture? and they have to continue to borrow to survive. Um, this is these are scary kind of bubble stories in the making. You know what I mean?
好。但你觉得这……我其实提起 CoreWeave 是想核实一下。是的，它确实有520亿、510亿美元债务。但我的意思是，你觉得 CoreWeave 出问题会在整个 AI 领域引发连锁反应吗？
Okay. But do you do you think this should I I was actually bringing up core weave to check. Yeah. Actually, it does have 52 51 billion in debt. But I mean, do you think a coreweave mess creates contagion throughout the AI the AI landscape?
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