CoreWeave sinks more than 8% on quarterly results

Financial Performance - Coreweave posted a loss, but revenue exceeded expectations [1] - Cash flow was better than expected due to lower capital expenditure [2] Business Operations & Strategy - Remaining performance obligations (backlog) may have fallen short of expectations, impacting stock movement [3] - Data center supply is as critical as chip supply for bringing GPUs online [4] - Committed data center capacity was 220% gigawatt at the end of Q2, compared to approximately 500 megawatts active, suggesting a potential 5x increase in capacity [4] - Coreweave is broadening its approach by partnering with former Bitcoin miners like Core Scientific to bring capacity online [10] - Coreweave has deals worth $10 billion for 600 megawatts of capacity with Core Scientific [11] - Acquiring Core Scientific allows Coreweave to eliminate rent payments and potentially accelerate capacity deployment [11] Market Dynamics & Risks - AI infrastructure is a key focus, and Coreweave is a pure expression of this trend [14] - Coreweave's multi-year contracts with key customers provide financial insulation from near-term market fluctuations [15] - Capacity constraints could be a near-term issue affecting new bookings [6]