---
title: "Coreweave CEO refutes \"AI closed loop\": Big companies are investing in infrastructure, where is the loop coming from? This is all demand"
type: "News"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/news/260361549.md"
description: "CoreWeave CEO Michael Intrator stated that tech giants such as Meta, Microsoft, Amazon, and Google are aggressively purchasing infrastructure services for customers, which is driven by \"fundamental infrastructure construction\" based on real demand. In such large-scale infrastructure construction processes, \"it is not uncommon to see partnerships as people try to provide infrastructure services to consumers,\" and this dynamic will also appear in other markets"
datetime: "2025-10-09T03:05:51.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/260361549.md)
  - [en](https://longbridge.com/en/news/260361549.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/260361549.md)
---

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# Coreweave CEO refutes "AI closed loop": Big companies are investing in infrastructure, where is the loop coming from? This is all demand

CoreWeave CEO Michael Intrator strongly refuted Wall Street's concerns about "circular investment" among tech giants, stating that such claims are "fundamentally flawed."

On October 9th, according to CNBC, in an interview on Wednesday, CoreWeave CEO Michael Intrator stated that the tech industry is undergoing "fundamental infrastructure construction," and the current partnership model is not uncommon in large-scale infrastructure development in other markets.

He emphasized that **the world's largest tech companies, such as Meta, Microsoft, Amazon, and Google, are making significant investments in infrastructure to serve customers, which is driven by real demand for infrastructure construction**. He believes that the doubts regarding circular investment are only temporary, as the fundamental driving force of the market is "huge."

The company recently signed significant contracts worth over $43 billion with OpenAI, Meta, and Nvidia, further solidifying its position in the AI infrastructure market.

CoreWeave went public in March this year, becoming the largest tech IPO in the U.S. since 2021, successfully raising $1.5 billion. With the continued growth in investor demand for AI and data centers, the company's stock price has soared over 200% since its Wall Street debut.

## Huge Contracts Raise Concerns About Circular Investment

A series of major contracts recently signed by CoreWeave has raised Wall Street's concerns about "circular investment."

At the end of last month, the company announced an expanded partnership agreement with OpenAI worth $6.5 billion, bringing the total contract value with the ChatGPT maker to $22.4 billion. A few days later, CoreWeave signed a $14.2 billion agreement with Meta.

In early September, CoreWeave also disclosed an order worth at least $6.3 billion with chip manufacturer Nvidia. Nvidia is a key supporter of CoreWeave, and under the latest agreement, Nvidia "is obligated to purchase the remaining unsold capacity," with the contract running until April 2032.

Reports indicate that **these deals, along with other similar agreements among major tech companies, have led some Wall Street analysts to worry that funds are circulating back and forth between companies, creating an overly circular investment model.**

## CEO Defends Infrastructure Construction Driven by Real Demand

In response to the concerns, Intrator clearly stated during an interview with CNBC host Jim Cramer:

> "The reality is that truly large and truly important tech companies are purchasing infrastructure to deliver to customers—Meta, Microsoft, Amazon, Google. **The largest tech companies in the world are buying this infrastructure because they have demand; there is nothing circular about it.**"

He emphasized that **the current transactions represent "fundamental infrastructure construction."** In such large-scale infrastructure development, "seeing partnerships is not uncommon, as people are trying to provide infrastructure services to consumers," and this dynamic can also occur in other markets Intrator stated:

> "The talk about cyclical investments - this is just the current rhetoric, but it will pass, because the fundamental driving force of the market is enormous."

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