What concerns me most is the mismatch between growth and financing costs: $3.66 billion in quarterly revenue, but $846 million in interest expense. That is a business growing fast with an expensive balance sheet.
My preference is NVIDIA over CRWV for now. NVIDIA sells the picks and shovels; CoreWeave must finance the entire mine. I'd rather wait for improving free cash flow and debt discipline before buying the rebound. AI demand is the opportunity; capital efficiency determines the winners.
@TigerPicks [思考]
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