CoreWeave Has to Selectively Allocate Cloud Capacity
Dow Jones
Aug 12
1832 ET - CoreWeave has to be selective with how it distributes its cloud-computing capacity, Chief Financial Officer Nitin Agrawal says on a Tuesday call, adding that each GPU that comes online has multiple customers asking for its capacity. "We are being disciplined in how we allocate our scarce cloud capacity," Agrawal says. "We are prioritizing opportunities that are strategically important, adding new customers while deepening long term existing relationships and delivering attractive returns that, as [CEO Mike Intrator] noted, are expanding further." Shares gain 14%, to $102.60.
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