tech
December 10, 2025
Coreweave CEO defends AI circular deals as 'working together'
The CEO of the AI data center provider, which has Nvidia as an investor and a supplier, described the environment as a "violent change" in demand.
TL;DR
- Coreweave's IPO in March did not meet expectations, and a planned acquisition of its partner Core Scientific in October faltered.
- CEO Michael Intrator defended the company's performance, stating they are building a "new business model" for cloud computing and leveraging their Nvidia GPUs for financing.
- Coreweave's stock has experienced significant volatility since its IPO, trading between $40 and over $150, with some comparing it to a meme stock due to its fluctuations.
- The company's substantial debt level is cited by critics as a factor contributing to stock uncertainty, with a recent debt issuance causing an 8% stock drop.
- Originally a crypto-miner, Coreweave has become a crucial provider of AI infrastructure, supplying GPUs to major tech players like Microsoft, OpenAI, Nvidia, and Meta.
- Coreweave has made multiple acquisitions, including Weights and Biases, OpenPipe, Marimo, and Monolith, to expand its business.
- The company plans to expand into the federal market, providing cloud infrastructure to U.S. government agencies and the defense industrial base.
- Intrator addressed criticism of "circular" business deals in the AI industry, emphasizing collaboration to manage supply and demand changes.
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