CoreWeave CEO Reportedly Dismisses 'Circular Investment' Concerns, Says Companies Are Buying AI Infra Because Of Demand
Synopsis
In an interview with CNBC, CEO Michael Intrator stated that it is not unusual to see partnerships between companies as they strive to serve consumers.
CoreWeave Inc. (CRWV) co-founder and CEO Michael Intrator reportedly dismissed growing concerns of “circular investment” in the artificial intelligence sector on Thursday.
In an interview with CNBC, Intrator stated that the world's largest technology companies are purchasing AI infrastructure from CoreWeave because they have a demand.
“It’s a fundamental infrastructure buildout that is taking place, and when you have such a massive scale investment in infrastructure, it is not unusual to see partnerships as people try to serve infrastructure to the consumers. It happens in other markets, it’s happening in this market,” he said in the interview.
CoreWeave shares were down nearly 1% in Thursday’s pre-market trade. Retail sentiment on Stocktwits around the company trended in the ‘bearish’ territory.
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