Jim Cramer has often been seen as a figure with a "hit or miss†track record. ...

As we enter October, CoreWeave (CRWV) finds itself at a pivotal inflection point. Once a scrappy crypto-miner turned artificial intelligence (AI) infrastructure play, the company has rapidly repositioned itself as a central node in the GPU-powered cloud ecosystem. Its latest multi-billion dollar deals with OpenAI and Nvidia (NVDA) inject further opportunities into its path forward. But surging revenue is accompanied by soaring costs and concentration risk. So, should you buy, sell, or hold CoreWeave this ...

公司股价与业务动态 - 公司股价昨日上涨超过8% [1] - 公司宣布推出新工具以帮助程序员开发AI智能体 [1] 重大商业合作 - 公司与Open AI达成65亿美元的交易扩张 [2] - 公司与Meta签署价值超过140亿美元的协议 [2] - 公司与芯片制造商Nvidia披露一笔价值超过60亿美元的订单 Nvidia是公司的主要支持者和重要股东 [3] 行业合作模式探讨 - 公司CEO认为全球大型科技公司购买基础设施是由于实际需求 属于根本性的基础设施建设 并非循环交易 [1] - 在基础设施领域进行大规模投资时 出现合作伙伴关系是常见的 目的是向消费者提供服务 这种情况在其他市场也会发生 [2] - Nvidia的交易被明确为一种供应商融资交易 AMD的交易也被视为供应商融资交易 但是从相反的方向进行 [3][4] - AMD交易的核心是公司给予对方股权 使得认股权证价值增加 从而获得资金来支付原本无法负担的芯片 [5] - 在交易中谁占据优势方面 Nvidia的交易相比AMD的交易明显更具优势 [6]

These AI stocks have surged in the triple digits this year.Investors have piled into artificial intelligence (AI) stocks in recent years, buying shares of companies involved in various areas of the technology -- from chip designers to players in fields like voice AI. The industry offers investors a wide range of choices, and many of these have already delivered significant gains. For example, chip designer Nvidia and voice AI player SoundHound AI have advanced 1,300% and nearly 400%, respectively, over thre ...

核心观点 - 著名做空者Jim Chanos对CoreWeave公司的经济模型提出尖锐批评 认为其巨额资本投资未能产生有意义的回报 [1][2][3] Jim Chanos的做空论点 - 基于公司CEO关于客户愿意租用其GPU长达6或7年的陈述 Chanos计算出公司第二季度191亿美元的平均已动用资本 [2] - 按7年使用寿命进行摊销 年经济折旧达到27.29亿美元 超过了公司年化第二季度EBITDA 26.24亿美元 [3] - Chanos得出结论 即使采用CEO估计的使用寿命上限 公司的投入资本回报率也为0% [3] 公司CEO的回应与业务定位 - CEO Michael Intrator在采访中强调公司拥有复杂的软件堆栈 在AI生态系统中扮演关键角色 反驳了公司将沦为房地产投资信托基金的看法 [4] - CEO表示市场对其自建和增强的软件堆栈的重要性存在误解 [5] 公司股价表现 - CoreWeave股价在周三上涨8.65% 收于139.98美元 盘后进一步上涨0.71% [6] - 自2025年3月上市以来 公司股价已累计上涨249.95% [6] 市场背景与投资者对比 - 做空观点与公司的看涨支持者形成鲜明对比 对冲基金Magnetar Financial通过对CoreWeave的投资获得了数十亿美元的意外之财 [5] - 追踪标普500指数和纳斯达克100指数的ETF在周三均出现上涨 [7]

Wednesday, Oct 8, 2025 The market rebounded from yesterday’s slump and set new records on Wednesday, partly buoyed by optimism over the Fed’s minutes of the meeting and partly bullish over AI. The S&P 500 was up 0.6% on Wednesday, recording a fresh high at $6,755. The tech-heavy Nasdaq Composite, led by AMD and Micron, rose 1.1% at the close. The Dow Jones Industrial Average, despite opening at a high, lost all its gains by the close, mainly remaining unchanged at $46,601.8. The Russell 2000 also gain ...

We had Jensen Wang yesterday for CBC Investing Club. Uh it was a great one-on-one and one of the things that he talked about was the dismissed this notion of the circular deal and instead he talked about the notion of be a really great investor and he mentioned the investment in Coreweave. Now how did that come about.Because it clearly was at the time risky. You and I talked about it. I wasn't worried about it because I knew that it was a real investment.It was not to be able to give him you money and then ...

市场叙事转变 - 华尔街市场情绪在六个月内发生180度转变，从担忧市场崩溃转向担忧市场泡沫 [1][2] - 纳斯达克综合指数在过去六个月上涨50%，由人工智能热潮驱动 [2] 历史先例比较 - 传奇投资者保罗·都铎·琼斯将当前市场与1999年互联网泡沫时期相比较，认为两者感觉完全一样 [2] - 历史数据显示，从1999年到2000年，纳斯达克指数翻倍，暗示当前科技股可能仍有巨大上涨空间 [2] - 保罗·都铎·琼斯曾通过对比1987年与1929年市场图表，成功预测"黑色星期一"并使其基金在1987年获得125%回报，净值约1亿美元 [4] 货币政策支持 - 美联储在标普500指数创历史新高时降息，为市场增添动力 [7] - 根据摩根大通研究，美联储在标普500指数距历史高点1%以内时降息共12次，一年后市场全部上涨，中位数回报率为15% [7] - 历史降息后标普500指数在不同时间段的平均回报率分别为：一个月后0.1%，三个月后2.3%，六个月后3.4%，一年后13.9% [9] 人工智能产业扩张 - 人工智能收益从半导体、基础设施提供商和数据中心能源公司，向软件层等其他科技领域扩散 [10] - Figma与OpenAI整合使用户能够通过ChatGPT对话设计任务，Shopify合作使ChatGPT用户可直接从大语言模型购买产品 [10] 市场情绪与资金面 - AAII情绪调查显示看涨情绪为42.9%，中性情绪17.9%，看跌情绪仍高达39.2%，表明市场并未过度狂热 [11] - 低风险货币市场基金中存在创纪录的7万亿美元"闲置资金"，可能因害怕错失机会而流入股市 [14] 估值水平分析 - 标普500指数当前市盈率为23倍，虽高于历史常态，但远低于2000年峰值时的40倍以上 [16] - 华尔街愿意为高科技创新公司支付更高估值，当前人工智能领军企业可能支持较高估值水平 [16]

In a interview Wednesday with CNBC's Jim Cramer, CoreWeave CEO Michael Intrator brushed off concerns that the company's deals with other artificial intelligence giants are circular investments, saying such a narrative is "fundamentally flawed.""The reality of the situation is, really large, really important technology companies across the space are buying infrastructure to deliver it to their clients — Meta, Microsoft, you know, Amazon, Google," Intrator said. "I mean, the largest tech companies in the worl ...

投资评级与目标价 - Evercore ISI重申对CoreWeave Inc的跑赢大市评级和175美元目标价 [1] 商业模式与单位经济 - 公司拥有强劲的单位经济和可扩展的商业模式 [1] - 收入几乎全部来自预留容量 [2] - 管理层认为GPU的生产力可维持超过六年 并引用了旧款Volta单元的持续使用以及对多年Grace Blackwell合约的需求作为佐证 [3] 财务表现与盈利能力 - 一项总值32亿美元的交易可产生约10亿美元的资本支出 部署后可带来40-50%的增量EBIT利润率和高达70%的增量EBITDA利润率 [4] - 公司当前的中等十位数利润率状况归因于为增长而进行的积极再投资 预计随着规模扩大利润率将显著提升 [4] 客户合约与收入保障 - 公司签订多年不可撤销的照付不议合约 平均期限为四至五年 [2] - 预付款结构覆盖合约总价值的15-25% [2] 战略合作伙伴关系 - 公司与英伟达的协议提供额外安全网 英伟达有义务在2032年前购买任何未使用的GPU产能 [3]