$CRWV The $META fears are overblown. I'll be adding aggressively (via options) to CoreWeave. Here's why: 1⃣ CoreWeave's $35b contracts with Meta are through Dec 2032. These are explicitly take-or-pay. This is guaranteed revenue. 2⃣ These are just rumors of selling "excess" capacity. Per Zuck in May, companies were "asking if we have compute that they could buy from us at some premium to what we've bought it at." IE, this is them selling capacity they bought from NBIS and CRWV at a premium, if they have extra. 3⃣ META is constrained already. Google limited Meta's usage of Gemini back in March, which likely led to the two contracts with Nebius and CoreWeave over the following 45 days. 4⃣ Even IF Meta does a pivot and begins a data center play, their model (per the rumors) appears to be AWS-like. Per the Bloomberg report, "Meta would run the data centers and chips that power the models, including its own Muse Spark models, and charge developers to access them." If this goes wildly successful for Meta, you know what they'll need beyond 2032? Compute. Lots of it. Likely more than they are able, willing, or wanting to build out. What kind of compute will you want in that scenario? Bare metal compute. IE, CoreWeave.