🚨 COREWEAVE REPORTS $132.5 BILLION IN BACKLOG. ITS INTEREST BILL TELLS THE OTHER HALF OF THE STORY.
💰 CoreWeave reported $846 million in quarterly net interest expense against $207 million in operating income.
âš¡ NRG agreed to sell 4.9 gigawatts of natural gas generation to LS Power for $4 billion.
📈 Meanwhile, the 10-year Treasury finished Tuesday at 4.98%, after hotter-than-expected October inflation.
Here's the capital allocation question:
Who owns the operating infrastructure, who controls deliverable power, and whose contracted cash flow can actually cover the financing?
The next great AI infrastructure investment may not be an AI company. It may be the company controlling the…
The skinny
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