News linked to both this project and an event.
Odaily reports: AI compute startup General Compute has completed a $100 million Series A funding round, led by Blackbird Ventures and Abstract Ventures, with a post-money valuation of $800 million, a significant increase from the $60 million valuation after its seed round in May this year. The funding was driven by an order from a large customer with $100 million in annual recurring revenue.General Compute focuses on AI inference compute, using specialized chips from NVIDIA competitors, and has reached a $400 million chip procurement agreement with SambaNova, with suppliers also including Positron and Cerebras. Unlike the traditional approach of building large data centers, the company deploys AI compute by leasing data center space, utilizing smaller-scale power resources, and retrofitting Bitcoin mining farms, with plans to deploy 75 megawatts of compute capacity by 2027. Amid CoreWeave's stock falling to near a 12-month low and Elon Musk's prediction that more than 200 new cloud service providers will undergo elimination and consolidation, General Compute co-founder and CEO Finn Puklowski believes that market fears of a chip-induced industry collapse are severely exaggerated, and customer demand for various chips and compute remains strong.PANews, October 27: According to reports, AI compute startup General Compute has completed a $100 million Series A funding round, led by Blackbird Ventures and Abstract Ventures, with a post-money valuation of $800 million, a significant increase from the $60 million valuation after its seed round in May this year. Currently, General Compute focuses on AI inference compute, using specialized chips from NVIDIA competitors, and has reached a $400 million chip procurement agreement with SambaNova, with suppliers also including Positron and Cerebras. (TechCrunch)
Galaxy Digital released its Q3 2026 financial results, reporting a net profit of $323 million, marking a turnaround from an $85 million loss in the previous quarter. Adjusted EBITDA reached $455 million, while total assets grew sequentially by 51% to $16.4 billion. Cash, stablecoins, and U.S. Treasuries totaled $4.9 billion, nearly doubling quarter-over-quarter. In its digital asset business, trading volume increased sequentially by 12%, outperforming the broader spot market. The combined scale of asset management and staking grew sequentially by 46% to $10.4 billion, alongside a multi-year partnership with BNY Mellon to provide staking support for its digital asset custody platform. The data center business saw adjusted EBITDA rise nearly fivefold sequentially to $69 million, primarily driven by the first full operating quarter following the delivery of 133 MW of compute capacity for Phase I of Helios to CoreWeave. Phase II has broken ground with fully funded financing. The company completed a $3.5 billion issuance of senior secured bonds for this purpose, and its overall power pipeline has expanded to over 5.7 GW, with server room deliveries expected to begin in Q2 2027. Regarding capital operations, the $200 million share repurchase program launched in February was completed on October 15, with approximately 9.8 million shares cumulatively repurchased. On October 26, the Board of Directors approved a new $200 million repurchase authorization.
QCP stated that credit risk related to AI infrastructure is undergoing accelerated repricing. The yield on CoreWeave bonds has risen to approximately 15% year-to-date, and its stock price fell 10% on October 22 as markets begin to reassess high financing costs and debt sustainability. This pressure has spread from CoreWeave to the broader neocloud infrastructure sector, weighing on tech stocks and crypto assets while driving funds toward long-term US Treasuries.
Goldman Sachs concludes that the funding gap can be covered by debt financing, customer advance payments, and operating cash flow.
According to Binance Research’s weekly report, U.S. CPI rose to 3.7% in September, with energy accounting for more than one-third, while YoY PPI climbed to 6.3%. Based on the EIA oil price trajectory, headline CPI could peak at approximately 3.9% in October before declining to roughly 2.6% by March 2027. In the AI sector, Anthropic’s Q3 revenue grew 45% quarter-on-quarter, significantly below the previously observed rate of more than doubling. Its Binance Pre-IPO contracts dropped 8.8% over two trading days, while yields on CoreWeave’s 2032-maturing bonds rose to approximately 16%. Binance Research stated that cooling AI demand and rising financing costs are simultaneously impacting AI infrastructure transactions.
According to Bloomberg, CoreWeave's financing developments are exacerbating market concerns over the funding capabilities of AI companies. Following statements from its co-founders that they are exploring entry into the investment-grade debt market and securing insurance company capital, its high-yield bond yields rose to 15% this week, reaching a level typically viewed as indicative of distressed debt. Some creditors are concerned that the company will continue to incur significant debt in the future.
Bernstein assesses that CoreWeave faces rising financing costs, weakened contract protections, substantial debt obligations, and challenges to its long-term business model. The firm maintains an Underweight rating with a $74 target price, representing 12% upside from the $65.78 close on October 14.
Odaily reports: “White-Haired Stock Oracle” Serenity posted that Musk’s recent abrupt interactions with multiple finance-sector KOLs have amplified market concerns about CoreWeave (CRWV) financing risks and speculative behavior among AI investors. Although Musk is highly visionary, from the outside, continuously magnifying the problems facing competitors and accusing Samsung and SK Hynix of overpricing may further increase the financing difficulty of those parties. These remarks may benefit Tesla and SpaceX in the long run, but the market may also overlook the specific context of some of these issues as a result.Serenity added that it had previously raised concerns multiple times about CoreWeave’s debt interest burden and the risk of rising rates, and criticized the market for lacking detailed analysis of changes in high-end memory chip supply and Broadcom CEO’s remarks about OpenAI’s annualized recurring revenue (ARR). It also suggested that when Musk criticizes competitors, he should also consider the risks he himself faces.
According to the UK's Financial Times, NVIDIA-backed AI cloud provider CoreWeave is seeking to tap into insurers' vast pools of capital to reduce its financing costs for purchasing AI chips and building infrastructure. Brandon McBride, CoreWeave's co-founder and head of financing, stated that if the company can secure investment-grade ratings for more of its chip-backed debt and ultimately improve its own credit rating, it will have the opportunity to enter the insurance capital market. He noted that the insurance industry's capital base is "almost infinite," because "all the money sitting in insurance capital pools represents one of the largest funding sources in the world."
Odaily News: AI chip leasing company Nscale, which plans to go public, is relatively small and newly established. Although it has grown rapidly over the past year and has signed contract revenue comparable to that of veteran competitor CoreWeave, nearly all of its approximately $103 billion in contract commitments depend on data centers that have not yet been built, and some projects have not even raised all the construction funds they need. Nscale's previously submitted IPO filing shows that the company is seeking to pursue an IPO at a valuation of approximately $35 billion. (The Information)
据彭博社报道，由 Blue Owl Capital 旗下关联机构支持的一家数据中心开发商宣布发债募资 11 亿美元押注 AI 算力，为弗吉尼亚州里士满附近 Digital Drive 数据中心项目提供资金，该数据中心拥有 76 兆瓦 IT 容量，将由 CoreWeave 以15 年、29.4 亿美元的合同全部租赁，预计 2027 年至 2028 年投入运营。
AI cloud service provider CoreWeave announced plans to privately place convertible senior notes due 2033 with an aggregate principal amount of $3 billion, granting initial purchasers an option to purchase up to an additional $500 million. The notes will mature on April 1, 2033, with specific terms including the interest rate and initial conversion ratio to be determined at pricing. CoreWeave plans to use a portion of the proceeds to pay for capped call transaction costs, with the remaining funds designated for general corporate purposes.
Odaily News: AI data center operator DataVita has announced securing £300 million (approximately $406 million) in funding to expand its artificial intelligence data center campus at the AI Growth Zone in Lanarkshire, Scotland.The funding was provided by a consortium consisting of ING, ABN AMRO, Spain's Santander Bank, the Scottish National Investment Bank, and Siemens Financial Services, with the UK National Wealth Fund guaranteeing £202 million of the loans.DataVita stated that the funds will be used to expand its existing DV1 data center and construct the new DV3 facility. Upon completion, both DV1 and DV3 will each provide 40MW of power capacity, adding a total of 80MW of new capacity. Currently, AI cloud computing provider CoreWeave has already pre-leased the full capacity of both data centers under a 15-year lease term. CoreWeave primarily provides computing infrastructure services to multiple leading AI model developers. (Bloomberg)
Odaily News "White-Haired Stock God" Serenity shared insights on the AI industry chain on the X platform, noting that AI infrastructure demand is driving multiple sectors—including storage, advanced packaging, computing power financing, optical communications, power supply, and electronic components—into a long-term expansion cycle. The AI supply chain remains in a phase of rapid growth.In the storage sector, Serenity cited UBS forecasts indicating that traditional DRAM manufacturers (such as Micron) could see gross margins reach an unprecedented 95% by 2027, potentially even surpassing the gross margin levels of HBM products. Additionally, SanDisk's long-term agreements already cover approximately two-thirds of its 2028 production capacity, with minimum contracted revenue reaching $93 billion. Given its current market cap of around $239 billion, this suggests its future revenue targets could persist for years, making it difficult to simply classify the company as a traditional cyclical stock.On the cloud computing infrastructure front, CoreWeave has signed agreements to use Nvidia A100 GPUs through 2029. This is a positive development for emerging cloud computing companies such as Nebius and Iren, and it also weakens some investors' bearish thesis centered on the rapid depreciation of older GPUs.AI model companies are also continuing to grow at a pace that exceeds expectations. Frontier AI labs are still maintaining extremely rapid growth rates, and a slowdown in growth would actually be a cause for concern. The market projects that Anthropic's 2028 revenue could reach $190 billion to $200 billion.However, advanced packaging and semiconductor infrastructure remain core bottlenecks. The head of advanced packaging at TSMC has stated that in the coming years, the industry may face not only memory shortages but also tight supply of ABF substrates.Serenity concluded that the AI infrastructure supply chain is continuously expanding. From GPUs, storage, and advanced packaging to power, optical communications, and electronic components, every segment is showing a long-term demand growth trend. The AI supply chain is still in a high-speed development stage.
According to TechFlow Research, Morgan Stanley's August Q2 earnings report indicated that CoreWeave added 500MW of net active power in a single quarter, exceeding any quarter in history, more than three times year-over-year. Management reaffirmed the target of reaching at least 8GW before 2030. FY26 revenue guidance midpoint was raised 2% to $12.4 billion to $13.2 billion, ARR midpoint was raised 3% to $18.5 billion to $19.5 billion. The company raised full-year capital expenditure guidance midpoint by 12% to $35.5 billion to $39.0 billion, Q3 capital expenditure guidance is $11.5 billion to $13.5 billion, higher than the market expectation of $10 billion. Managed Inference Platform (managed inference platform) ARR grew from $1 million to over $100 million, expected to reach at least $250 million by year-end. The research report judges that Q2 adjusted operating margin was about 8%, higher than expected, but Q3 margin guidance of 5.8% to 7.2% is lower than market expectations, Q4 margin needs to increase significantly to achieve full-year guidance. Morgan Stanley expects CoreWeave FY27 operating margin to be 15.9%, FY28 to be 22.4%, free cash flow to remain negative until 2028, and debt is expected to increase to approximately $38 billion by the end of 2026. Morgan Stanley maintains Equal-weight (in line with the market) rating and $99 price target.
Odaily News - Analyst qinbafrank posted on X platform, stating that the latest earnings reports from CoreWeave (CRWV) and Nebius show the AI cloud computing (CSP) industry is entering a phase of rapid expansion. The competitive focus is shifting from simply providing GPU leasing to building AI infrastructure platforms that encompass computing power, software, data, and operational capabilities.Currently, AI computing demand still significantly exceeds short-term deliverable supply. Meanwhile, pricing power for AI computing is strengthening, but price increases are mainly concentrated on high-value resources. CoreWeave stated that prices for various GPU computing SKUs rose by approximately 25% on average in July; Nebius disclosed that prices for previous-generation GPUs increased by over 30% compared to Q1, with new contracts signed in Q2 averaging over $20 million in annualized revenue per MW, some projects reaching $20 million to $25 million, and short-term emergency capacity prices even reaching $40 million to $50 million per MW.However, price increases are mainly occurring in short-term capacity, next-generation GPUs, large-scale clusters, and production-grade AI inference scenarios. Traditional low-priority, long-term locked-in bare computing power has not seen concurrent price increases. From a profitability model perspective, project-level returns on AI computing are becoming clearer, but overall corporate return on invested capital (ROIC) still needs time to be validated. Nebius has for the first time disclosed relatively clear project payback periods, while CoreWeave is reducing GPU investment pressure through long-term contracts and asset-level financing. However, both companies remain in a high-capital-expenditure phase, with depreciation and financing costs continuing to compress profit margins.Nevertheless, an increasing number of individual projects are achieving closed-loop economic models, indicating that the AI infrastructure business model is gradually maturing. Additionally, both CoreWeave and Nebius are upgrading toward becoming "AI infrastructure operating systems." Future CSP competition will no longer be just about renting out GPU hours but will cover complete service systems including AI training, inference, storage, networking, model deployment, monitoring, security governance, and Agent runtime environments.In terms of capital models, the two companies are also taking different paths: Nebius leans more toward an asset-light model, building AI data centers through capital partners while providing AI infrastructure operations and software capabilities itself; CoreWeave, on the other hand, is promoting a hybrid cloud model through its Omni strategy, deploying complete AI cloud platforms to customers' own data centers and GPU resources, placing greater emphasis on enterprise-level and sovereign AI delivery.Overall, the AI cloud computing industry is evolving from "GPU rental providers" to "AI infrastructure platforms." Short-
Odaily News Nvidia-backed AI cloud computing provider Lambda is raising $917 million through the leveraged loan market to procure AI chips. As artificial intelligence infrastructure construction accelerates, chip financing is emerging as a new avenue for capital investment in the AI industry.Lambda belongs to the rapidly growing camp of "neoclouds" in recent years, primarily offering GPU computing power and AI infrastructure services to enterprises and developers. This financing plan will be carried out through a GPU-backed loan based on GPU asset-related rights, designed to support the company in expanding its AI computing resources.According to reports, AI infrastructure companies are actively exploring new financing methods to meet the massive capital investments required to build large-scale computing clusters. Previously, AI cloud service provider CoreWeave completed the first chip financing transaction in the institutional leveraged loan market, providing a new financing model for the industry.As demand for generative AI continues to grow, Nvidia GPU supply has become a core resource for AI companies' expansion. By using GPU assets as a financing basis, AI cloud providers can rapidly scale up computing capacity without relying entirely on equity financing, while also bringing traditional credit markets into the wave of AI infrastructure investment. (Bloomberg)
According to Yonhap News Agency, AI cloud computing company CoreWeave was forced to make significant concessions in a $2.6 billion loan project collateralized by compute supply contracts with Anthropic due to sluggish investor demand: raising the annual yield on the loan to 9.1% and adding a "Cash Flow Lockbox" protection clause to ensure revenue generated from Anthropic contracts is prioritized for debt repayment, a clause that will remain in effect until 50% of the loan principal is repaid or the server utilization rate falls below a specific level. Following the adjustment of terms, subscription demand reversed rapidly—buy orders received on the morning of July 30 totaled as high as $9 billion, exceeding the target financing amount by more than three times. A CoreWeave spokesperson expressed satisfaction with the financing results, describing the term revision as a "natural process of introducing innovative financial structures in a volatile market environment."
sources familiar with the matter revealed Galaxy Digital Inc. plans to issue approximately $3.5 billion in high-yield bonds for the first time, aiming to fund data center projects associated with CoreWeave Inc. According to the sources, Galaxy Digital is marketing the bond issuance to investors at a yield of around 9%. Morgan Stanley and Goldman Sachs are acting as underwriters for this issuance, with pricing expected to be finalized on Thursday. The sources requested anonymity as the information has not yet been made public.
According to Bloomberg, humanoid robot startup Walden Robotics, spun off from Toyota's robot research lab, announced the completion of approximately $300 million in seed funding, reaching a valuation of $1.1 billion, and officially emerging from stealth mode. This round was co-led by Deviation Capital and Toyota Motor Corporation, with Toyota's strategic investment and early venture capital arm also participating. Nvidia, Boeing, AE Ventures, Samsung Ventures, and CoreWeave Ventures participated as investors. Headquartered in Cambridge, Massachusetts, Walden Robotics was founded in January this year. It independently develops hardware, software, and AI models, focusing on building general-purpose humanoid robots capable of continuous learning and evolution in real-world environments, currently primarily deployed in the manufacturing and logistics sectors. The company has launched multiple commercialization projects, including a pilot program at a Toyota factory in North America, where robots work alongside human teams to complete 8-hour shifts daily, handling repetitive tasks such as parts loading and unloading, machine cleaning, and equipment preparation. Morgan Stanley predicts that the global humanoid robot market size is expected to surpass $5 trillion by 2050.