The Zhitong Finance App learned that Bernstein's latest research report re-estimated the capital expenditure required for CoreWeave to land an order of about 129 billion US dollars, revised the previous incremental capital estimate of about 75 billion US dollars to 44-68 billion US dollars, and narrowed the external financing gap to 180-42 billion US dollars. However, analysts believe that the company's real risk lies in the dilemma of rising financing costs and shortening the term of customer contracts: expansion relies on continuing to “borrow new money,” while contracts supporting financing are getting shorter. Even if AI computing power is in short supply in the short term, once the industry's production capacity is released centrally, CoreWeave may be the first to bear the burden. Maintaining the “outperforming market” rating, the target price was slightly raised to $54.

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