I Think You Missed CoreWeave’s Zero-Cost-Basis Engine
Key Points The A100 renewal breaks the obsolescence thesis. CoreWeave disclosed on its Q2 2026 call that a cluster of Nvidia A100 GPUs, introduced in 2020, is contracted through 2029. Management framed this as evidence that once initial debt service and capital recovery are behind a GPU cluster, renewals become high-margin, not distressed sales. Lenders…