<p>投资者们发现了另一种押注人工智能（AI）巨头 <strong>Nvidia</strong>（NVDA -0.24%）成功的方法，那就是购买 <strong>CoreWeave</strong>（CRWV -3.71%）的股票。这家新上市的科技公司——它在三月份完成了首次公开募股（IPO）——为客户提供了访问大量 Nvidia 顶级 AI 芯片的机会，这帮助其收入飙升。Nvidia 也显示出对 CoreWeave 潜力的信心，因为该公司已经投资了 CoreWeave 的股票。实际上，Nvidia 持有价值 39.6 亿美元的 CoreWeave 股票，使其成为这家芯片设计公司股票投资组合中的最大持股。</p>
<p>所有这些因素帮助 CoreWeave 的股票从三月份的 IPO 到六月份的高峰上涨了超过 350%。但从那个高峰以来，股票已经下跌了约 50%，因为一些投资者担心 CoreWeave 几个月前宣布的一项十亿美元收购以及最近的季度亏损超出预期。CoreWeave 是一个在下跌时买入的股票，还是一个应该避免的股票？让我们来看看。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzE4MDcvZ2V0dHlpbWFnZXMtMjE0ODExMzM1MC0xMjAxeDc3Mi1mOWZkMGM2LmpwZyZ3PTcwMA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzE4MDcvZ2V0dHlpbWFnZXMtMjE0ODExMzM1MC0xMjAxeDc3Mi1mOWZkMGM2LmpwZyZ3PTcwMA"/></p>
<p>图片来源：Getty Images。</p>
<h2>访问 Nvidia 的 GPU</h2>
<p>首先，让我们考虑 CoreWeave 的业务。如前所述，该公司为客户提供租用 Nvidia 图形处理单元（GPU）的能力——在 30 多个数据中心中大约有 250,000 个。当然，CoreWeave 面临来自大型云服务提供商的竞争，因为他们也向客户提供这些顶级 AI 芯片，但 CoreWeave 因几个原因而脱颖而出。首先，CoreWeave 专门为 AI 构建了其平台，因此能够为客户提供最佳的速度和灵活性。对这些客户的优势在于，他们可以更快地完成项目并降低成本。</p>
<p>其次，CoreWeave 多次率先提供 Nvidia 最新芯片的普遍可用性——从今年早些时候的 Blackwell 到最近的 Blackwell Ultra 更新。这一记录可能会吸引越来越多的客户，因为他们知道 CoreWeave 一定会拥有最新的高性能计算资源。</p>
<p>说到客户，CoreWeave 在这里看到了积极的势头。在最近的一个季度，该公司表示其 AI 云服务的需求正在 “快速增长”，并提到各行业客户的增加。CoreWeave 还表示，两家主要云服务提供商扩大了与公司的协议。</p>
<h2>提升全年指引</h2>
<p>得益于这种需求和 AI 增长前景，CoreWeave 第二次上调了全年指引——现在预计收入为 51.5 亿至 53.5 亿美元，比之前的预测增加了 2.5 亿美元。</p>
<p>但由于 CoreWeave 的业务需要大量投资，投资者对公司的亏损表示担忧。在第二季度，它报告每股亏损 60 美分，未能达到分析师对每股亏损 20 美分的预期。此外，一些股东对 CoreWeave 收购 AI 基础设施公司 Core Scientific 的计划表示担忧。</p>
<p>这笔全股票交易不会增加债务，但将公司与当前运营整合仍可能导致短期成本。还有另一个潜在风险：CoreWeave 将收购结构化为全股票交易——Core Scientific 的股东将获得 CoreWeave 的股票——这意味着 CoreWeave 当前股价的下跌可能会影响交易条款。</p>
<h2>是买入还是避免的股票？</h2>
<p>因此，考虑到所有这些，CoreWeave 是一个在下跌时买入的股票，还是一个应该避免的股票？CoreWeave 的股票，像许多年轻的成长公司一样，存在一定风险。该公司必须大量投资以建立其产品以服务客户，这可能会延迟盈利。收购 Core Scientific 在短期内增加了不确定性，但重要的是要看看这一举措如何与长期战略相契合。收购 Core Scientific 为 CoreWeave 提供了拥有基础设施的机会，未来可减少 100 亿美元的租赁负债。这意味着这一举措，尽管目前可能对 CoreWeave 构成压力，但可能帮助公司扩大基础设施以服务更多客户并降低成本。</p>
<p>现在，您是否购买 CoreWeave 的决定取决于您对风险的承受能力。如果您是一个谨慎的投资者，您可能会觉得在旁观更为舒适。在 Core Scientific 交易在第四季度完成之前，股票可能会经历一些波动。</p>
<p>但如果您是一个成长型投资者，并且对任何波动感到舒适，现在是以合理的价格投资这个潜在的 AI 巨头的绝佳时机——并可能在 CoreWeave 受益于持续的 AI 热潮时获利。</p>

CRWV

<p>CoreWeave 是一家提供 Nvidia AI 芯片访问的科技公司，其股票在强劲的首次公开募股后已从高峰下跌 50%。尽管最近出现季度亏损，并且对一项十亿美元收购的担忧加剧，但其 AI 云服务的需求正在增长，这促使其提高了收入指引。投资者面临选择：在下跌时买入，还是因重投资和收购整合的风险而选择回避。成长型投资者可能会发现现在有价值，而谨慎的投资者可能更倾向于等待收购完成</p>

<p>Investors have found another way to bet on the success of artificial intelligence (AI) powerhouse <strong>Nvidia</strong>(NVDA -0.24%), and that's been through buying shares of <strong>CoreWeave</strong>(CRWV -3.71%). This new-to-the-market tech company -- it completed its initial public offering (IPO) in March -- offers customers access to a huge fleet of Nvidia's top-performing AI chips, and this has helped its revenue soar. Nvidia has shown that it's a believer in CoreWeave's potential too, as the company has invested in CoreWeave stock. In fact, Nvidia holds $3.96 billion in CoreWeave shares, making this the top holding in the chip designer's stocks portfolio.</p>
<div class="lb-trans"><p>投资者们发现了另一种押注人工智能（AI）巨头 <strong>Nvidia</strong>（NVDA -0.24%）成功的方法，那就是购买 <strong>CoreWeave</strong>（CRWV -3.71%）的股票。这家新上市的科技公司——它在三月份完成了首次公开募股（IPO）——为客户提供了访问大量 Nvidia 顶级 AI 芯片的机会，这帮助其收入飙升。Nvidia 也显示出对 CoreWeave 潜力的信心，因为该公司已经投资了 CoreWeave 的股票。实际上，Nvidia 持有价值 39.6 亿美元的 CoreWeave 股票，使其成为这家芯片设计公司股票投资组合中的最大持股。</p>
</div><p>All of this helped CoreWeave's shares climb more than 350% from their IPO in March through a peak in June. But from that peak, the stock has since declined about 50% as some investors worry about a billion-dollar acquisition that CoreWeave announced a couple of months ago and a recent deeper-than-expected quarterly loss. Is CoreWeave a stock to buy on the dip or one to avoid? Let's find out.</p>
<div class="lb-trans"><p>所有这些因素帮助 CoreWeave 的股票从三月份的 IPO 到六月份的高峰上涨了超过 350%。但从那个高峰以来，股票已经下跌了约 50%，因为一些投资者担心 CoreWeave 几个月前宣布的一项十亿美元收购以及最近的季度亏损超出预期。CoreWeave 是一个在下跌时买入的股票，还是一个应该避免的股票？让我们来看看。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzE4MDcvZ2V0dHlpbWFnZXMtMjE0ODExMzM1MC0xMjAxeDc3Mi1mOWZkMGM2LmpwZyZ3PTcwMA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F831807%2Fgettyimages-2148113350-1201x772-f9fd0c6.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>图片来源：Getty Images。</p>
</div><h2>Access to Nvidia's GPUs</h2>
<div class="lb-trans"><h2>访问 Nvidia 的 GPU</h2>
</div><p>So, first, let's consider CoreWeave's business. As mentioned, the company offers customers the ability to rent access to Nvidia's graphics processing units (GPUs) -- about 250,000 across more than 30 data centers. Of course, CoreWeave faces competition from the large cloud service providers as they too offer customers these top AI chips, but CoreWeave stands out for a couple of reasons. First, CoreWeave built out its platform specifically for AI, so that it can offer customers optimal speed and flexibility. The advantage for those customers is they may complete projects faster and limit their costs.</p>
<div class="lb-trans"><p>首先，让我们考虑 CoreWeave 的业务。如前所述，该公司为客户提供租用 Nvidia 图形处理单元（GPU）的能力——在 30 多个数据中心中大约有 250,000 个。当然，CoreWeave 面临来自大型云服务提供商的竞争，因为他们也向客户提供这些顶级 AI 芯片，但 CoreWeave 因几个原因而脱颖而出。首先，CoreWeave 专门为 AI 构建了其平台，因此能够为客户提供最佳的速度和灵活性。对这些客户的优势在于，他们可以更快地完成项目并降低成本。</p>
</div><p>And second, CoreWeave has repeatedly been the first to offer the general availability of Nvidia's latest chips -- from Blackwell earlier this year to the Blackwell Ultra update just recently. This track record could bring more and more customers to CoreWeave as they know it's sure to have the latest high-power compute available.</p>
<div class="lb-trans"><p>其次，CoreWeave 多次率先提供 Nvidia 最新芯片的普遍可用性——从今年早些时候的 Blackwell 到最近的 Blackwell Ultra 更新。这一记录可能会吸引越来越多的客户，因为他们知道 CoreWeave 一定会拥有最新的高性能计算资源。</p>
</div><p>Speaking of customers, CoreWeave is seeing positive momentum here. In the recent quarter, the company said demand for its AI cloud services is &#34;aggressively growing&#34; and mentioned gains in customers across industries. CoreWeave also said two major cloud service providers expanded their agreements with the company.</p>
<div class="lb-trans"><p>说到客户，CoreWeave 在这里看到了积极的势头。在最近的一个季度，该公司表示其 AI 云服务的需求正在 “快速增长”，并提到各行业客户的增加。CoreWeave 还表示，两家主要云服务提供商扩大了与公司的协议。</p>
</div><h2>Lifting full-year guidance</h2>
<div class="lb-trans"><h2>提升全年指引</h2>
</div><p>Thanks to this demand and AI growth prospects, CoreWeave lifted its full-year guidance for the second time -- it now aims for revenue of $5.15 billion to $5.35 billion, up by $250 million from its earlier forecast.</p>
<div class="lb-trans"><p>得益于这种需求和 AI 增长前景，CoreWeave 第二次上调了全年指引——现在预计收入为 51.5 亿至 53.5 亿美元，比之前的预测增加了 2.5 亿美元。</p>
</div><p>But as CoreWeave's business requires extensive investment, investors have worried about the company's losses. In the second quarter, it reported a loss per share of 60 cents, missing analysts' estimates for a 20-cent loss per share. On top of this, some shareholders are concerned about CoreWeave's plan to acquire Core Scientific, an AI infrastructure company.</p>
<div class="lb-trans"><p>但由于 CoreWeave 的业务需要大量投资，投资者对公司的亏损表示担忧。在第二季度，它报告每股亏损 60 美分，未能达到分析师对每股亏损 20 美分的预期。此外，一些股东对 CoreWeave 收购 AI 基础设施公司 Core Scientific 的计划表示担忧。</p>
</div><p>The all-stock deal won't add to debt, but integration of the company with current operations still could result in near-term costs. And here's another potential risk: CoreWeave's structuring of the acquisition as an all-stock operation -- with Core Scientific shareholders receiving CoreWeave shares -- means the current decline in CoreWeave's stock price could upset the terms of the deal.</p>
<div class="lb-trans"><p>这笔全股票交易不会增加债务，但将公司与当前运营整合仍可能导致短期成本。还有另一个潜在风险：CoreWeave 将收购结构化为全股票交易——Core Scientific 的股东将获得 CoreWeave 的股票——这意味着 CoreWeave 当前股价的下跌可能会影响交易条款。</p>
</div><h2>A buy or a stock to avoid?</h2>
<div class="lb-trans"><h2>是买入还是避免的股票？</h2>
</div><p>So, considering all of this, is CoreWeave a buy on the dip or a stock to avoid? CoreWeave stock, like many young growth companies, carries some risk. The company must invest heavily to build up its offerings to serve customers, and that could delay profitability. The Core Scientific acquisition adds uncertainty in the near term, but it's important to look at how this move will fit in with strategy over the long term. The addition of Core Scientific offers CoreWeave the opportunity to own infrastructure, cutting $10 billion in lease liability overhead down the road. That means this move, though a potential weight on CoreWeave at the moment, could help the company scale up its infrastructure to serve more customers and reduce costs.</p>
<div class="lb-trans"><p>因此，考虑到所有这些，CoreWeave 是一个在下跌时买入的股票，还是一个应该避免的股票？CoreWeave 的股票，像许多年轻的成长公司一样，存在一定风险。该公司必须大量投资以建立其产品以服务客户，这可能会延迟盈利。收购 Core Scientific 在短期内增加了不确定性，但重要的是要看看这一举措如何与长期战略相契合。收购 Core Scientific 为 CoreWeave 提供了拥有基础设施的机会，未来可减少 100 亿美元的租赁负债。这意味着这一举措，尽管目前可能对 CoreWeave 构成压力，但可能帮助公司扩大基础设施以服务更多客户并降低成本。</p>
</div><p>Right now, your decision whether to buy CoreWeave depends on your comfort with risk. If you're a cautious investor, you might feel more comfortable watching from the sidelines. Until the Core Scientific deal closes in Q4, the stock could experience some ups and downs.</p>
<div class="lb-trans"><p>现在，您是否购买 CoreWeave 的决定取决于您对风险的承受能力。如果您是一个谨慎的投资者，您可能会觉得在旁观更为舒适。在 Core Scientific 交易在第四季度完成之前，股票可能会经历一些波动。</p>
</div><p>But if you're a growth investor and comfortable with any fluctuations, now is a great time to get in on this potential AI giant for a reasonable price -- and potentially win as CoreWeave benefits from the ongoing AI boom.</p>
<div class="lb-trans"><p>但如果您是一个成长型投资者，并且对任何波动感到舒适，现在是以合理的价格投资这个潜在的 AI 巨头的绝佳时机——并可能在 CoreWeave 受益于持续的 AI 热潮时获利。</p>
</div>

CoreWeave 股价下跌 50%，是否值得在低点买入？