nvidia

<a href="https://www.theverge.com/ai-artificial-intelligence/822011/coreweave-debt-data-center-ai" rel="nofollow">The Verge article</a> about CoreWeave by Elizabeth Lopatto is amazing.<br><p>Let’s start with some very recent history. CoreWeave is a data center company that pivoted in 2022 from crypto. (In 2021, CoreWeave made its money by… mining Ethereum.) Essentially, CoreWeave is a landlord for compute: companies pay for the use of its server racks for AI projects.<br></p>...<br><p>CoreWeave chief executive officer Michael Intrator, a former hedge fund manager,<br></p>...<br><p>“They have to continue to borrow to pay interest on the last loan.”<br></p>So,<br>- CoreWeave sits at the center of the AI bubble;<br>- it used to be a crypto company and also gets its (electric) power from a Bitcoin mining company that makes no money and has CoreWeave as its only customer<br>- it&#x27;s positioned itself as a rentier;<br>- its interest payments on previous loans exceed its revenue by a significant amount, so it&#x27;s paying off loans with more loans and has already defaulted once;<br>- it has essentially two customers, Microsoft and NVIDIA;<br>- it has a loan from one of the actors implicated in the 2008 financial crash (Magnetar)<br>- it&#x27;s run by a finance guy, not a tech person<br>- yet it&#x27;s in the position of someone who takes out a new credit card to pay the interest on the previous credit card<br><br>Yeah. Looks like crypto, and crypto&#x27;s Ponzi scheme way of thinking, has slimed its way into the &quot;real&quot; economy after all.<br><br>Oh and welcome back, global financial crash. We missed you. And eyyy, how you doing Enron long time no see:<br><p>CoreWeave isn’t alone in its complex finances. Meta took on debt, using a SPV, for its own data centers. Unlike CoreWeave’s SPVs, the Meta SPV stays off its balance sheet. Elon Musk’s xAI is reportedly pursuing its own SPV deal.<br></p>&quot;Complex finances&quot; are what companies engage in when there isn&#x27;t any there there (SPVs were Enron&#x27;s &quot;financial innovation&quot; too).<br><br>Peter Thiel pulling his investments out of NVIDIA makes far more sense after reading this. Looks wobbly.<br><p>It is perhaps time to discuss the enormous stock sales from CoreWeave’s management team. Before the company even went public, its founders sold almost half a billion dollars in shares. Then, insiders sold over $1 billion more immediately after the IPO lockup ended.<br></p>...<br><p>“It’s noteworthy that people who have a good view on that business are cashing out,” says Leevi Saari, a fellow at the AI Now Institute.<br></p>and of course<br><p>It makes a certain kind of cynical sense to view CoreWeave itself as, effectively, a special purpose vehicle for Nvidia.<br></p><a href="/tags/ai/" rel="tag">#AI</a> <a href="/tags/genai/" rel="tag">#GenAI</a> <a href="/tags/generativeai/" rel="tag">#GenerativeAI</a> <a href="/tags/aibubble/" rel="tag">#AIBubble</a> <a href="/tags/coreweave/" rel="tag">#CoreWeave</a> <a href="/tags/corescientific/" rel="tag">#CoreScientific</a> <a href="/tags/microsoft/" rel="tag">#Microsoft</a> <a href="/tags/nvidia/" rel="tag">#NVIDIA</a> <a href="/tags/crypto/" rel="tag">#crypto</a> <a href="/tags/grift/" rel="tag">#grift</a> <a href="/tags/casinoeconomy/" rel="tag">#CasinoEconomy</a><br>

<p><a href="/tags/deepseek/" rel="tag">#DeepSeek</a> R1的超低成本越来越显得蹊跷。<br>我想出一个阴谋论，报出如此低且实际上无法验证的成本，是 <a href="/tags/空头/" rel="tag">#空头</a> 想把高悬已久的 <a href="/tags/nvidia/" rel="tag">#NVIDIA</a> 股价打下来。考虑到老板是搞对冲基金的，这个就更好理解了。<br>空头成功了，市场第二天才反应过来上了当。</p>

<p>&quot;I think we’re in a bad situation in the stock market. I think the stock market could be in for a number of bad years. I think it could be a longer bear market, more akin to 2000…I think when the market goes down it’s not like in 2000 where there were a bunch of stocks that were being ignored and they’ll come up even if the NASDAQ crashes. Now I think the whole thing is just going to come down.&quot; -Michael Burry</p><p><a href="/tags/bigshort/" rel="tag">#BigShort</a> <a href="/tags/michaellewis/" rel="tag">#MichaelLewis</a> <a href="/tags/palantir/" rel="tag">#Palantir</a> <a href="/tags/nvidia/" rel="tag">#Nvidia</a> </p><p><a href="https://michaeljburry.substack.com/p/michael-lewis-against-the-rules-podcast" rel="nofollow" class="ellipsis" title="michaeljburry.substack.com/p/michael-lewis-against-the-rules-podcast"><span class="invisible">https://</span><span class="ellipsis">michaeljburry.substack.com/p/m</span><span class="invisible">ichael-lewis-against-the-rules-podcast</span></a></p>

<p>We delivered on generational graphics upgradeability in a laptop. The new Framework Laptop 16 with <a href="/tags/amd/" rel="tag">#AMD</a> Ryzen AI 300 Series processors, <a href="/tags/nvidia/" rel="tag">#NVIDIA</a> GeForce RTX 5070 graphics, and 240W USB-C power adapter is now live and available for pre-order at <a href="https://frame.work/laptop16" rel="nofollow"><span class="invisible">https://</span>frame.work/laptop16</a>!</p>

<p>∞ <a href="/tags/openai/" rel="tag">#OpenAI</a> 用 <a href="/tags/nvidia/" rel="tag">#Nvidia</a> 的投资买 <a href="/tags/oracle/" rel="tag">#Oracle</a> 的云服务<br>∞ Oracle用OpenAI买云服务的钱来买Nvidia的GPU<br>∞ Nvidia用Oracle买GPU的钱投资OpenAI ∞</p>

new blogpost<br><br><a href="https://cyrneko.eu/nvidia-maxwell.html" rel="nofollow">cyrneko.eu/nvidia-maxwell.html</a><br><br><a href="/tags/nvidia/" rel="tag">#nvidia</a> <a href="/tags/linux/" rel="tag">#linux</a>