Core Company Overview - Cororeweave is an AI cloud computing company that provides powerful computing resources for AI creation and training, utilizing supercomputing mega clusters with over 100,000 GPU chips [2][3] - Founded in 2017 as Atlantic Crypto, the company pivoted to cloud computing in 2019 and rebranded as Cororeweave [4][5] - The company operates more than 30 data centers and develops in-house chip management software [4][6] Financial Performance - In its last quarterly report, Cororeweave reported revenue of $1.21 billion, exceeding estimates of $1.08 billion, but posted a loss of 60 cents per share, worse than the expected 23 cents [8] - The company has accumulated a revenue backlog of $30.1 billion, indicating potential future income [10] - Cororeweave's debt exceeded $10 billion at the end of Q2 2023, attributed to high upfront costs for hardware and facilities [9] Strategic Partnerships and Acquisitions - Cororeweave has secured significant investments and partnerships, including a $100 million investment from Nvidia in April 2023 and a $6.5 billion expansion of its partnership with OpenAI [5][7] - The company announced plans to acquire Monolith AI and OpenPI, as well as a $9 billion all-stock deal for Core Scientific [7] Market Position and Competitors - Cororeweave differentiates itself from major cloud providers like AWS, Azure, and Google Cloud by focusing primarily on AI and machine learning [6] - The company has established itself as a key player in the AI space, attracting attention from investors despite not yet turning a profit [18]