The Journal. CoreWeave, the Company Riding the AI Boom
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Nov 12, 2025 
Dan Gallagher, a WSJ technology reporter, dives into CoreWeave's surprising role in the AI boom. He discusses how the launch of ChatGPT drove massive demand for GPU resources. Mike Intrator, CEO of CoreWeave, shares insights on the company's shift from crypto to AI infrastructure, revealing their strategy of using debt for rapid expansion. They explore the possible bubble in AI spending and the risks posed by fluctuating demand. Intrator also discusses contracts with major players like Meta and NVIDIA to manage business risks.
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Hidden Infrastructure Powering AI
- CoreWeave provides GPU infrastructure that powers many AI products, often unseen by end users.
- Their business is tightly tied to large-scale AI compute demand and NVIDIA GPUs.
From A Single Chip To AI Pivot
- CoreWeave started in 2017 after founders bought a single GPU and originally mined cryptocurrency.
- When crypto crashed they pivoted the same hardware toward AI workloads and growth accelerated.
ChatGPT Sparked Explosive GPU Demand
- The ChatGPT launch in late 2022 triggered explosive GPU demand that accelerated through 2023.
- NVIDIA sales surged as cloud and AI companies raced to buy scarce GPUs.