$CRWV
coreweave8/10Does he own it?
No first-person buy/hold/add/weight statement for CRWV. He repeatedly warns it is not a good long and explicitly says betting on it is wrong. His stated long position is NBIS (his pick) and separately IQE; CRWV is used purely as a bearish contrast.
His thesis
He views CoreWeave as the structurally weakest Neocloud: crippled by heavy debt and over $1.5B yearly interest that eats into free cash flow, plus heavy leverage to OpenAI, making it the first name to fall in any contagion. He acknowledges it did the right things operationally (Nvidia backing, hyperscaler clients) but financed itself the wrong way via high-rate debt. He prefers Nebius as the sector winner and treats CRWV as a cautionary example of toxic financing.
How his view evolved
Early on framed as OpenAI-contagion and debt risk; briefly noted Neocloud tailwinds could lift it. But the consistent and hardening view is bearish on its debt structure, repeatedly contrasting it unfavorably with his preferred NBIS.
Key points
- Heavy debt and over $1.5B annual interest erode free cash flow
- Most exposed to OpenAI contagion; first Neocloud to fall in a downturn
- Used as bearish foil to elevate his actual pick, Nebius; not owned
Derived from a holistic read of his public posts — paraphrased, never quoted. See his actual posts about $CRWV on X ↗