To The Moon

$CoreWeave, Inc.(CRWV)$ management explained the company’s post-IPO development vision, core competencies, and strategic positioning in the context of the rapid global expansion of AI computing infrastructure. They emphasized the explosive growth in AI compute demand, severe infrastructure shortages, and highlighted the company’s unique strengths in technology, physical infrastructure, and capital markets.

🔑 Key Takeaways from the Meeting

1. Company Vision & Positioning

• CoreWeave’s strategy is clear: provide cutting-edge infrastructure to meet the parallel computing demands of the AI era.

• Core mission: Build ultra-large-scale AI computing capabilities globally to meet continuous training and inference demands.

• Management stressed that the current market demand for compute power is “overwhelming, persistent, and critically scarce.”

2. Three Core Competitive Advantages (“Three-Legged Stool” Model)

a. Technology Solutions

• Built a completely new parallel computing architecture and software stack, free from the historical constraints of traditional cloud providers (which focus on sequential computing).

• CoreWeave’s clusters are recognized by clients as “unique, dedicated, and highly effective,” especially for ultra-large-scale AI workloads.

b. Physical Infrastructure Capabilities

• Capable of rapidly deploying and managing large-scale data centers, power, and hardware resources.

• In the AI era, infrastructure is no longer fully outsourced to cloud providers; CoreWeave treats it as a core competitive advantage.

c. Capital Market Capabilities

• Raised over $25 billion in the past 18 months through equity, bonds, and high-yield structured financing.

• Skillfully combines venture capital (VC) and debt market capital to achieve scalable expansion.

• Management stated this is the most undervalued yet critical capability for the business.

3. Investor Concerns & Misconceptions

• The market often questions the high-debt model, but the company emphasizes that its capital structure is carefully designed to fit the business model.

• Similar to Salesforce’s early SaaS model: it takes time for the market to gradually accept and validate.

• Technical advantages have been independently validated by third-party research (SemiAnalysis report), gradually strengthening market recognition.

4. Demand Environment & Trends

• AI compute demand is accelerating, with GPU requirements reaching “millions or more.”

• Supply is extremely tight, and infrastructure development lags far behind demand.

• Customer base includes:

  • Leading AI labs (e.g., OpenAI)

  • Large enterprises integrating AI into business operations

  • Sovereign nations building national-scale compute infrastructure

5. Training vs Inference

• CoreWeave does not differentiate between clients using training or inference; it provides full AI infrastructure to support the entire lifecycle.

• Initially, new architecture adoption favors training, then gradually shifts to inference, but both coexist.

6. Future Outlook

• CoreWeave will continue to lead in technology, hardware, and capital.

• Focus: continuously meet customer demand for supercomputer-level GPU clusters at ultra-large scale.

📌 Summary
By leveraging technological architecture innovation, ultra-large-scale physical infrastructure, and unique capital market financing capabilities, CoreWeave is becoming a core infrastructure provider in the era of global AI compute scarcity.