<p>7 月 1 日，多家媒体报道，<strong>Meta Platforms</strong>（META +6.16%）正在成立一个新的业务部门，内部称为 “Meta Compute”，以向第三方客户出售其多余的人工智能云计算能力。据报道，Meta 将向公司出售其原始 GPU 计算能力和对其基础设施的远程访问，以便他们能够运行自己的人工智能模型。</p>
<p>自该消息发布以来，领先的 neocloud 提供商 <strong>CoreWeave</strong>（CRWV 0.87%）的股价已下跌近 11%。这种回调是买入机会还是对公司未来的严峻警告？</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84NzgyODAvZ2V0dHlpbWFnZXMtMjA3ODkxNzEwOS5qcGcmdz0zODQw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84NzgyODAvZ2V0dHlpbWFnZXMtMjA3ODkxNzEwOS5qcGcmdz0zODQw"/></p>
<p>图片来源：Getty Images。</p>
<h2>为什么 Meta 的战略转变打击了 CoreWeave 的股价？</h2>
<p>Meta 的战略转变让 CoreWeave 的投资者感到意外，因为 Meta 刚刚在今年 4 月同意向 CoreWeave 支付 210 亿美元，直到 2032 年，以获取其 neocloud 服务。Meta 还与另一家 neocloud 公司 <strong>Nebius</strong>（NBIS +1.50%）达成了类似的数十亿美元交易。</p>
<p>因此，Meta 在明显需要云计算能力的情况下出售自己的云计算能力似乎最初有些奇怪。Meta 与 CoreWeave 和 Nebius 的协议也禁止其转售任何云计算能力，因此它只能在自己的第一方数据中心出售多余的人工智能云计算能力。</p>
<p>展开</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vYXJ0L2NvbXBhbnlsb2dvcy9tYXJrL0NSV1YucG5nJnc9MTI4?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="CoreWeave 股票报价" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vYXJ0L2NvbXBhbnlsb2dvcy9tYXJrL0NSV1YucG5nJnc9MTI4"/></p>
<h2>NASDAQ: CRWV</h2>
<p>CoreWeave</p>
<p>今日变动</p>
<p>(-0.87%) $-0.78</p>
<p>当前价格</p>
<p>$88.92</p>
<h3>关键数据点</h3>
<p>市值</p>
<p>$48B 市值仅根据公开交易的流通股计算。不包括未上市、私有或双重类别非交易股份。隐含市值可能有所不同。市值仅根据公开交易的流通股计算。不包括未上市、私有或双重类别非交易股份。隐含市值可能有所不同。</p>
<p>日内区间</p>
<p>$88.01 - $91.28</p>
<p>52 周区间</p>
<p>$63.80 - $153.20</p>
<p>成交量</p>
<p>344K</p>
<p>平均成交量</p>
<p>30.1M</p>
<p>毛利率</p>
<p>34.82%</p>
<p>然而，Meta 计划在今年投资高达 1450 亿美元以扩展其自身的 人工智能基础设施。随着其建立更多的数据中心，其中一些服务器将在其社交网络平台和人工智能服务完全利用之前保持闲置。</p>
<p>为了避免在未充分利用的服务器上浪费过多现金和能源，Meta 希望将其租给第三方——这一举措可能使其成为像 CoreWeave 和 Nebius 这样的公司的强大竞争对手。CoreWeave 的其他主要客户，如 Jane Street 和 <strong>IBM</strong>（NYSE: IBM），如果决定扩展其云基础设施，也可能最终采取相同的策略。</p>
<p>好消息是，CoreWeave 最大的客户——<strong>Microsoft</strong>（MSFT +0.15%）——可能不会这样做，因为它已经是全球最大的云基础设施公司之一。相反，CoreWeave 将继续作为其云服务的 “溢出罐”。</p>
<h2>这次回调是否代表买入机会？</h2>
<p>从 2025 年到 2028 年，分析师预计 CoreWeave 的收入将从 51 亿美元激增至 403 亿美元，其调整后的息税折旧摊销前利润（EBITDA）将从 31 亿美元飙升至 257 亿美元。以 912 亿美元的企业价值来看，按今年的收入和调整后 EBITDA 计算，分别为 7 倍和 13 倍，仍然显得相当便宜。</p>
<p>Meta 的举动令人担忧，但并未打破对 CoreWeave 的看涨预期。即使 Meta 出售其闲置的计算能力以降低成本，也并不意味着其他公司会急于依附于社交媒体巨头的基础设施。相反，像 CoreWeave 和 Nebius 这样的独立 neocloud 公司在人工智能市场扩展时仍应保持吸引力——因此这次回调可能是一个绝佳的买入机会。</p>

CRWV

2 倍做多 Meta ETF - Direxion

<p>CoreWeave 股票在 Meta 宣布通过新部门 “Meta Compute” 出售多余的 AI 云计算能力后下跌了 11%。这一举措引入了对 CoreWeave 的直接竞争，尽管 Meta 与这家新云服务提供商之间已有 210 亿美元的合同。分析师认为此次回调可能是一个买入机会，指出到 2028 年强劲的收入和 EBITDA 增长预测，以及 CoreWeave 继续作为微软等主要客户的溢出供应商的角色</p>

<p>On July 1, several media outlets reported that <strong>Meta Platforms</strong>( META +6.16%) was forming a new business unit, internally dubbed &#34;Meta Compute&#34;, to sell its excess AI cloud capacity to third-party customers. Meta will reportedly sell both its raw GPU computing capacity and remote access to its infrastructure to companies so they can run their own AI models.</p>
<div class="lb-trans"><p>7 月 1 日，多家媒体报道，<strong>Meta Platforms</strong>（META +6.16%）正在成立一个新的业务部门，内部称为 “Meta Compute”，以向第三方客户出售其多余的人工智能云计算能力。据报道，Meta 将向公司出售其原始 GPU 计算能力和对其基础设施的远程访问，以便他们能够运行自己的人工智能模型。</p>
</div><p>Shares of <strong>CoreWeave</strong>( CRWV 0.87%), a leading neocloud provider that provides many of the same services, have dropped nearly 11% since that news broke. Does that pullback represent a buying opportunity or a dire warning for the company's future?</p>
<div class="lb-trans"><p>自该消息发布以来，领先的 neocloud 提供商 <strong>CoreWeave</strong>（CRWV 0.87%）的股价已下跌近 11%。这种回调是买入机会还是对公司未来的严峻警告？</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84NzgyODAvZ2V0dHlpbWFnZXMtMjA3ODkxNzEwOS5qcGcmdz0zODQw" alt="An illustration of an AI chip." original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F878280%2Fgettyimages-2078917109.jpg&amp;w=3840&amp;op=resize"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>图片来源：Getty Images。</p>
</div><h2>Why did Meta's strategic shift crush CoreWeave's stock?</h2>
<div class="lb-trans"><h2>为什么 Meta 的战略转变打击了 CoreWeave 的股价？</h2>
</div><p>Meta's strategic shift surprised CoreWeave's investors, since Meta had just agreed to pay CoreWeave $21 billion through 2032 for its neocloud services this April. Meta also struck a similar multi-billion dollar deal with another neocloud company, <strong>Nebius</strong>( NBIS +1.50%).</p>
<div class="lb-trans"><p>Meta 的战略转变让 CoreWeave 的投资者感到意外，因为 Meta 刚刚在今年 4 月同意向 CoreWeave 支付 210 亿美元，直到 2032 年，以获取其 neocloud 服务。Meta 还与另一家 neocloud 公司 <strong>Nebius</strong>（NBIS +1.50%）达成了类似的数十亿美元交易。</p>
</div><p>Therefore, it might initially seem odd for Meta to sell its own cloud computing power when it clearly needs it. Meta's agreements with CoreWeave and Nebius also prohibit it from reselling any of that cloud computing power, so it can only sell the excess AI cloud capacity at its own first-party data centers.</p>
<div class="lb-trans"><p>因此，Meta 在明显需要云计算能力的情况下出售自己的云计算能力似乎最初有些奇怪。Meta 与 CoreWeave 和 Nebius 的协议也禁止其转售任何云计算能力，因此它只能在自己的第一方数据中心出售多余的人工智能云计算能力。</p>
</div><p>Expand</p>
<div class="lb-trans"><p>展开</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vYXJ0L2NvbXBhbnlsb2dvcy9tYXJrL0NSV1YucG5nJnc9MTI4" alt="CoreWeave Stock Quote" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Fart%2Fcompanylogos%2Fmark%2FCRWV.png&amp;w=128&amp;op=resize"/></p>
<h2>NASDAQ: CRWV</h2>
<div class="lb-trans"><h2>NASDAQ: CRWV</h2>
</div><p>CoreWeave</p>
<div class="lb-trans"><p>CoreWeave</p>
</div><p>Today's Change</p>
<div class="lb-trans"><p>今日变动</p>
</div><p>(-0.87%) $-0.78</p>
<div class="lb-trans"><p>(-0.87%) $-0.78</p>
</div><p>Current Price</p>
<div class="lb-trans"><p>当前价格</p>
</div><p>$88.92</p>
<div class="lb-trans"><p>$88.92</p>
</div><h3>Key Data Points</h3>
<div class="lb-trans"><h3>关键数据点</h3>
</div><p>Market Cap</p>
<div class="lb-trans"><p>市值</p>
</div><p>$48BMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.Market cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.</p>
<div class="lb-trans"><p>$48B 市值仅根据公开交易的流通股计算。不包括未上市、私有或双重类别非交易股份。隐含市值可能有所不同。市值仅根据公开交易的流通股计算。不包括未上市、私有或双重类别非交易股份。隐含市值可能有所不同。</p>
</div><p>Day's Range</p>
<div class="lb-trans"><p>日内区间</p>
</div><p>$88.01 - $91.28</p>
<div class="lb-trans"><p>$88.01 - $91.28</p>
</div><p>52wk Range</p>
<div class="lb-trans"><p>52 周区间</p>
</div><p>$63.80 - $153.20</p>
<div class="lb-trans"><p>$63.80 - $153.20</p>
</div><p>Volume</p>
<div class="lb-trans"><p>成交量</p>
</div><p>344K</p>
<div class="lb-trans"><p>344K</p>
</div><p>Avg Vol</p>
<div class="lb-trans"><p>平均成交量</p>
</div><p>30.1M</p>
<div class="lb-trans"><p>30.1M</p>
</div><p>Gross Margin</p>
<div class="lb-trans"><p>毛利率</p>
</div><p>34.82%</p>
<div class="lb-trans"><p>34.82%</p>
</div><p>However, Meta plans to invest up to $145 billion this year in expanding its own AI infrastructure. As it builds more data centers, some of those servers will remain idle until they're fully utilized by its social networking platforms and AI services.</p>
<div class="lb-trans"><p>然而，Meta 计划在今年投资高达 1450 亿美元以扩展其自身的 人工智能基础设施。随着其建立更多的数据中心，其中一些服务器将在其社交网络平台和人工智能服务完全利用之前保持闲置。</p>
</div><p>To avoid wasting too much cash and energy on underutilized servers, Meta wants to rent them out to third parties -- a move that could transform it into a formidable competitor to companies like CoreWeave and Nebius. CoreWeave's other major customers, such as Jane Street and <strong>IBM</strong> (NYSE: IBM), could also eventually follow the same playbook if they decide to expand their cloud infrastructure.</p>
<div class="lb-trans"><p>为了避免在未充分利用的服务器上浪费过多现金和能源，Meta 希望将其租给第三方——这一举措可能使其成为像 CoreWeave 和 Nebius 这样的公司的强大竞争对手。CoreWeave 的其他主要客户，如 Jane Street 和 <strong>IBM</strong>（NYSE: IBM），如果决定扩展其云基础设施，也可能最终采取相同的策略。</p>
</div><p>On the bright side, CoreWeave's largest customer -- <strong>Microsoft</strong>( MSFT +0.15%) -- probably won't do the same thing because it's already one of the world's biggest cloud infrastructure companies. Instead, CoreWeave will continue to serve as an &#34;overflow tank&#34; for its cloud services.</p>
<div class="lb-trans"><p>好消息是，CoreWeave 最大的客户——<strong>Microsoft</strong>（MSFT +0.15%）——可能不会这样做，因为它已经是全球最大的云基础设施公司之一。相反，CoreWeave 将继续作为其云服务的 “溢出罐”。</p>
</div><h2>Does the pullback represent a buying opportunity?</h2>
<div class="lb-trans"><h2>这次回调是否代表买入机会？</h2>
</div><p>From 2025 to 2028, analysts expect CoreWeave's revenue to surge from $5.1 billion to $40.3 billion as its adjusted earnings before interest, taxes, depreciation, and amortization ( EBITDA) soars from $3.1 billion to $25.7 billion. With an enterprise value of $91.2 billion, it still looks like a bargain at 7 times and 13 times this year's revenue and adjusted EBITDA, respectively.</p>
<div class="lb-trans"><p>从 2025 年到 2028 年，分析师预计 CoreWeave 的收入将从 51 亿美元激增至 403 亿美元，其调整后的息税折旧摊销前利润（EBITDA）将从 31 亿美元飙升至 257 亿美元。以 912 亿美元的企业价值来看，按今年的收入和调整后 EBITDA 计算，分别为 7 倍和 13 倍，仍然显得相当便宜。</p>
</div><p>Meta's move is alarming, but it doesn't break the bullish thesis for CoreWeave. Even if Meta sells its idle computing power to cut costs, it doesn't indicate that other companies will eagerly tether themselves to the social media giant's infrastructure. Instead, independent neocloud players like CoreWeave and Nebius should remain appealing choices as the AI market expands -- so this pullback could be a great buying opportunity.</p>
<div class="lb-trans"><p>Meta 的举动令人担忧，但并未打破对 CoreWeave 的看涨预期。即使 Meta 出售其闲置的计算能力以降低成本，也并不意味着其他公司会急于依附于社交媒体巨头的基础设施。相反，像 CoreWeave 和 Nebius 这样的独立 neocloud 公司在人工智能市场扩展时仍应保持吸引力——因此这次回调可能是一个绝佳的买入机会。</p>
</div>

CoreWeave Stock Sank 11% After Mark Zuckerberg's Meta Unveiled a Cloud Business Plan

- Meta Platforms 将成立新业务单元 “Meta Compute”，向第三方出售 AI 云计算能力。  
- CoreWeave 股价下跌近 11%，因 Meta 计划从中竞争，可能影响未来收益。  
- 尽管震荡，分析师预期 CoreWeave 收入在 2025-2028 年将大幅增长。

Motley Fool

Coreweave

T-REX 2X Long CRWV Daily Target ETF

Leverage Shares 2X Long CRWV Daily ETF

2 倍做多 META ETF - GraniteShares

T-REX 2X Inverse CRWV Daily Target ETF

Direxion Daily META Bear 1X Shares

Tradr 2X Long CRWV Daily ETF

Roundhill META WeeklyPay ETF

Yieldmax Meta Option Income Strategy ETF

Graniteshares YieldBOOST Meta ETF

2 倍做多 MAG7 指数 ETF - Roundhill

GraniteShares YieldBOOST CRWV ETF

Nebius

微软

在马克·扎克伯格的 Meta 公布云业务计划后，CoreWeave 的股票下跌了 11%