Matt Miller

It's a bit more of a complex picture, and that's why we've seen elevated short interest.

We've seen wild swings with this stock going back to when it went public last year during, call it the tariff issues.

And really, when you look at kind of the under-the-surface performance of this company, it is betting that they are going to dominate the space of acquiring NVIDIA chips, building out those data centers, and helping lease compute to hyperscalers.

It's a bold strategy that so far, again, we're really only in the early innings of that story playing out.

Yeah, I mean, this is a stock that has doubled in the past 12 months, Bailey, and almost all of that came in the first couple of months after Liberation Day.

Since then, the stock has been on a steady decline, so the chart doesn't look as impressive as it sounds.

No, not as impressive as it sounds.

And if you compare its one-year performance to its main publicly traded peer, and that's Nebius, it's actually underperforming the other neocloud rival.

Again, this is a story that from an investing standpoint has so many different parties participating.

So yes, you look at the stock performance.

Again, that's only the public equity side of this story.

So even when you talk to, as I do, investors who operate in both the private and public space,

It's a bit more of a complex and, again, debated story from a public equity perspective, but we continue to see the company finding willing investors to help back its credit and willing consumers in the likes of Amedda to sign some of these contracts because there are trillions of dollars at risk.

Yeah.

CoreWeave shares up 98.5% in the past 12 months.

Nebius up 360%.

Bloomberg's Bailey Lipschultz covers the markets for us.

Coming up, autonomous boat startup Ceronic raises $1.75 billion as the wave of funding into defense tech continues.

More on that next.

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