Benzinga·2025-09-15 15:16Group 1 - CoreWeave has signed a new agreement with Nvidia valued at an initial $6.3 billion, where Nvidia will purchase any unused cloud capacity until April 13, 2032 [2] - Following the announcement, CoreWeave stock initially gained over 9% in premarket trading but later retreated after a short report from Kerrisdale Capital [3] - Kerrisdale Capital has taken a short position on CoreWeave, claiming the stock's rise of nearly 200% since its IPO is based on hype rather than substance [4] Group 2 - Kerrisdale Capital argues that CoreWeave's business model relies on long-term contracts with a few large customers and expensive debt, lacking true innovation [4] - The report criticizes CoreWeave for lacking unique technology and defensible intellectual property, describing it as a debt-fueled GPU rental business without a competitive edge [5] - Kerrisdale has set a fair value estimate of $10 per share for CoreWeave, significantly lower than its current trading price of $120.71 [5]