To The Moon

Friday's upcoming IPO of $CoreWeave, Inc.(CRWV)$ may be the biggest victim of Microsoft's order withdrawal:Microsoft accounts for 62% of CoreWeave's revenue, and its shrinking order book is a direct hit to the company's revenue base.The company's debt burden is currently as high as $8 billion (equivalent to 30% of the IPO valuation), and the pressure on debt servicing will further exacerbate cash flow constraintsThe aggressive expansion model, which has consumed $7.1 billion in cash over the past two years, is unsustainable in the wake of divestment by large customers, and limited capex capacity could lead to stalled arithmetic infrastructure upgradesAccording to Faber, what's the point of Coreweave's business model?Their capex and associated depr

Friday's upcoming IPO of $CoreWeave, Inc.(CRWV)$ may be the biggest victim of Microsoft's order withdrawal:Microsoft accounts for 62% of CoreWeave's revenue, and its shrinking order book is a direct hit to the company's revenue base.The company's debt burden is currently as high as $8 billion (equivalent to 30% of the IPO valuation), and the pressure on debt servicing will further exacerbate cash flow constraintsThe aggressive expansion model, which has consumed $7.1 billion in cash over the past two years, is unsustainable in the wake of divestment by large customers, and limited capex capacity could lead to stalled arithmetic infrastructure upgradesAccording to Faber, what's the point of Coreweave's business model?Their capex and associated depr