/biz/ - Business & Finance

New cover story just dropped today: https://investorplace.com/2023/09/nvda-stock-alert-nvidia-addresses-coreweave-rumors-at-citi-conference/

>nvidia addresses CoreWeave "conspiracy theory" at citi conference
>"we have a very small investment in CoreWeave"
>"the $2.3B GPU order is insignificant"
>meanwhile this $2.3B nearly amounts to 10% of NVIDIAs total 2022 revenue ($27B)

Is this just total gaslighting or am I missing something?

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coreweave/nvidia discussion

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For those not in the loop, there have been some shady characters behind a tricky financial scheme that may be driving up the NVIDIA share price. Is big money using the AI hype to dump on retail? Is something even more sinister going on?

>CoreWeave starts as an ETH mining company headed by hedge fund managers who were deeply involved in carbon credit fraud during the mid 2000's
>CoreWeave pivots to GPU compute targeted towards AI as the AI hype starts growing
>CoreWeave gets a 2+ billion debt facility from Magnetar Capital who is known for playing both sides of the '08 crisis with CDOs.
>CoreWeave orders GPU's from NVIDIA with these funds and uses the chips as collateral for the loan from Magnetar
>This order from CoreWeave was a major factor of driving up NVIDIA's stock price, hence the entire market recently
>FinTwit and FinTube get ahold of the information and start asking questions
>Major red flags raised about those involved at every level. Shell companies, tax fraud, unethical dealings in their history.
>Ad hominem hit pieces and damage control articles come out attacking those asking questions
>Strawman is built: "Idiot low IQ conspiracy theorists! CoreWeave is not a shell company!" which was never said
>All legitimate concerns and criticisms are ignored. "GPU demand is very strong, Google and Microsoft can't get enough!" parroted.

CoreWeave's platform is currently very rudimentary, and building it out to convert billions in GPU's to a legitimate compute service seems a nearly insurmountable task given the current economic climate.

Why did NVIDIA choose CoreWeave instead of selling these chips to the big fish like Microsoft, Google, OpenAI, etc?

Why is everyone involved a sleazy scumbag? This whole thing smells like shit and combines the worst of Silicon Valley e/acc types and WallStreet grifters. A big financial engineering grift.

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>CoreWeave starts as an ETH mining company headed by hedge fund managers who were deeply involved in carbon credit fraud during the mid 2000's
>CoreWeave pivots to GPU compute targeted towards AI as the AI hype starts growing
>CoreWeave gets a 2+ billion debt facility from Magnetar Capital who is known for playing both sides of the '08 crisis with CDOs.
>CoreWeave orders GPU's from NVIDIA with these funds and uses the chips as collateral for the loan from Magnetar
>This order from CoreWeave was a major factor of driving up NVIDIA's stock price, hence the entire market recently
>FinTwit and FinTube get ahold of the information and start asking questions
>Major red flags raised about those involved at every level. Shell companies, tax fraud, unethical dealings in their history.
>Ad hominem hit pieces and damage control articles come out attacking those asking questions
>Strawman is built: "Idiot low IQ conspiracy theorists! CoreWeave is not a shell company!" which was never said
>All legitimate concerns and criticisms are ignored. "GPU demand is very strong, Google and Microsoft can't get enough!" parroted.