Chapter 1: What is the main topic discussed in this episode?
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Bloomberg Audio Studios. Podcasts. Radio. News. Let's talk about where we are in this cycle because Corweave shares, as Ed pointed out earlier, under pressure. That's after it lowered its annual revenue forecast due to a delay at a third party developing a data center. It really overshadowed impressive growth in revenue and order backlog.
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Chapter 2: What challenges is CoreWeave facing with data center delays?
We hear about how much people maybe need government to help speed up contracts, supply chain headaches. What is it in this particular data center issue that won't be replicated down the road? How are you making sure? Or is it just something we are going to see time and time again, do you think?
So, look, the way that we are handling this is we are doing several discrete things to ensure that we are future-proofing ourselves against these type of delays, right? We have our team that has been built out over the past year that builds and delivers data center. And so we have a self-build organization to be able to deliver our own data centers.
For instance, Kenilworth in New Jersey or Lancaster in Pennsylvania, where we are building from the ground up. Those skill sets, being able to deploy those individuals with those talents down to the data centers as they're being developed
constructed by third parties if they encounter problems where we can be useful, helpful, thinking through ways of solving and driving the process forward is really important to being able to mitigate these type of delays. We have... massively diversified our data center providers so we're not exposed to any specific data center provider in too large of a component.
And then the third piece of it is it's important to understand that as we get larger, As our delivered power gets larger, the relative impact of a delay at any one given site becomes less and less meaningful and less and less impactful on our run rate. And that's really important. You're encountering scaling issues within a company that's encountering scaling issues within a supply chain.
Both of those will get better.
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Chapter 3: How does CoreWeave manage its supply chain risks?
Time solves that. Scale solves that.
We are currently seeing that time isn't particularly helping the share price as we speak. It's now down 14.3% worst day since August. We are here with Michael and Tracey across radio and TV. And I want to sort of ask whether you think more broadly the U.S.
is stunted by the supply chain headache, or do you think there is something that can be done from a federal perspective here to ensure that you can build at the rate you want to build? You're not having these sorts of headaches.
So we've been... We and many others have been quite forceful in making the case that there is a role for government in helping us with some of the permitting issues, speed to which we can get our infrastructure and others can get their infrastructure attached to the grid, all of those type of things where There's a great role for the government to help in that.
They are the organization or government entity that is correctly positioned to help facilitate that. And I think that's a great role where government can lean in and make an impact across the space broadly.
Michael, you have an agreement with NVIDIA that lots of people find very interesting, that down the road, if there is spare capacity, there's some flexibility for you to deploy it elsewhere. That's a simple summation of it.
But I'm wondering how you're thinking about serving some of the smaller AI labs and casting that net even wider in your customer base, if indeed that capacity gets freed up down the line.
Yeah, it's a contract I'm actually incredibly excited about. It's a contract that we did with Nvidia where we will deliver them compute for the next six years. But in the contract is the capacity to interrupt the flow of compute to them. And that will allow us to repurpose that compute
to new companies, startups, companies that have struggled to get access to the compute that they require to bring new companies, organizations, ideas into existence. And I think it's just an incredibly important component of how the
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