CoreWeave (CRWV)

Is a great spec during the data centre build-out, but its balance sheet prevents it from being a flat-out buy. The CEO is very good.

Not a value, but growth stock. He's down 8% on it. They have a huge backlog, but what happens when the backlog ends? It's in a growth industry. Likes management. Could be interesting mid- or long-term.

It is well run and managed. Its IPO was a year ago April and it has consolidated here. There are other opportunities but you could buy at $77 and $73 since it should break higher. He has target of $134.

They ended Q1 with a backlog of under $100 billion. Revenues are expected to jump from below $13 billion this year to $25B in 2027 to over $40B in 2028, by which time EPS is expected at $3.36 and $6.92 in 2029, far better than current losses. The big question: Can they convert their backlog into profits?

Think of them as intelligence farms and data centres. You can get a lot more $$ from renting the GPUs than people had thought, and the assets don't depreciate as quickly as feared. There's just so much demand.

Was contentious when it came out, as it was a race between its interest expense on debt versus revenue generated from renting out compute. 

Likes both, prefers NBIS. A bit more responsible with its balance sheet.

A play on data centres. What does data centre growth look like? It was everything to everybody. Now growth is in question as people wonder where's the $$ coming from to build them? His own heart tells him that growth won't be what it was thought. Maine just voted to impose a ban on data centres.

Stock's tired. See his Top Picks.

The $1.4 billion in loans that OWL sold in the past several days were sold at par value; at least these loans were not impaired. But what does the rest of their portfolio look like? We need time and some financing getting completed.

She prefers the bitcoin miners, as their business model is a bit less risky. Both of these names look pretty attractive here, as H100 and H200 chip prices are still going up. So there's a bit more upside in the short term. Over the cycle, they don't have demand locked in. They're investing a lot of capex, and though demand is there today, the future is uncertain.

CRWV has the backing of NVDA, so it may be a bit better on risk/reward. Both have similar exposure.

Up 93% since last year's IPO, but peaked early and has tumbled 59% from that high.

They use debt to build data centres, but he's not worried, because he trusts the CEO--there's a lot of demand for the centres.

A lot going for it, as it's involved in the networking space. Massive company at almost $50B, considering it IPO'd only 6 months ago. His price target is $123. He'd pick it up if it got down to low-mid $80s.

Is +134% since its March IPO. Likes the fundamental business but was too high during its June peak. The lock-up on insider selling has expired, so shares have fallen below $100. Still, has performed well.