CoreWeave Shares Drop Despite Burry Closing AI Short Position
Shares of CoreWeave (NASDAQ:CRWV) fell by 5% on Thursday despite Michael Burry closing his short position in the company, a move that typically signals optimism. Instead, investors focused more on balance sheet concerns, particularly its high debt-to-equity ratio of 8.94 and significant interest expenses relative to negative free cash flow. Oracle (NYSE:ORCL) is down ahead of its Q1 fiscal earnings report while Cloudflare (NYSE:NET) remains stable despite broader declines in the tech sector. NVIDIA confirmed that CoreWeave's data centers are now fully operational with Vera Rubin racks, signaling strong demand for AI infrastructure and reinforcing CEO Jensen Huang’s assertion that AI has reached an inflection point. Cloudflare is performing well due to its asset-light model, achieving 35.9% revenue growth without needing large capital expenditures or debt financing.
Tickers: $CRWV $NBIS $NET $NVDA $ORCL
Topics: AI infrastructure Cloudflare CoreWeave Michael Burry Oracle