PremiumEmpty Seats, 20% Borrowing Costs, & A $4 Trillion IG Wrapper: Chamath Maps The Neocloud Endgame
Last night CoreWeave delivered the best quarter in its history, then guided to a $1.1 billion quarterly interest bill as debt hit $47 billion. Tucked deeper in the release was a number that matters even more: only 37% of the power CoreWeave has signed for is actually switched on, down from 41% a quarter earlier.
CRWV Charts: Contracted power jumped by more than 900 MW to 4.6 GW, but active power rose just 200 MW to 1.7 GW, after a 500 MW surge in Q2. Only 37% of what CoreWeave has signed is switched on, down from 41%.
— zerohedge (@zerohedge) November 10, 2026