On: CoreWeave bond yield tops 16% as AI credit stress rises

now do the math with profit instead of revenue

most recently (on both a quarterly and annual basis), it was negative

Why with profit instead of revenue?

Their revenue pays for the compute.

Their revenue pays for expenses. If profit is negative, revenue doesn't cover their expenses.

They can't just turn off all other expenses and just pay for compute.

Their revenue does cover their expenses - at least for last 2 quarters.

> Their revenue does cover their expenses

It doesn't: their expenses exceeded revenue the last quarter (by hundreds of millions of dollars) and the last calendar year as well (by tens of billions of dollars). Their profit this year is negative 1.5 billion dollars so far.