CoreWeave:英伟达 “干儿子” 真能子凭父贵?

海豚研究
Dec 16, 2025

随着 AI 中 GPU 含量的加大,25 年美国早已寡头的云服务行业,开始冒出一堆新兴云公司。本篇,海豚君以新云之一$Coreweave(CRWV.US) 来作为研究对象,来尝试理解一下 AI 时代,基础云服务的生意模式、要素变化,以及 CoreWeave 是不是一个有长期价值,从事好生意的好公司。而在下篇中展开定量角度,对公司的收入空间、成本结构、资金的投入产出等问题来判断目前节点,公司的投资...

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