Nvidia's $2 Billion Stake Covers Just 6% of CoreWeave's GPU Spending (io-fund.com)
CoreWeave's first-quarter free cash flow came in at negative $4.71 billion even as revenue more than doubled. To close the gap, it raised $3.5 billion in new debt this week alone, on top of $24.86 billion already owed, with interest payments now eating over a quarter of revenue.
One HN reader ran the actual math: Nvidia's investment is only 5.7% of CoreWeave's yearly GPU budget, making it "hardly circular." The real story, he argued, is who is financing the other 94% and what happens when Treasury yields keep climbing.
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