Kerrisdale goes short CoreWeave, sees 90% share downside

Kerrisdale announced a short position in CoreWeave (CRWV), saying the company is the “poster child of the AI infrastructure bubble.” The stock’s recent rally “rests more on hype, not substance,” the short selling firm contends in a report posted on its website. Kerrisdale says CoreWeave is a “debt fueled” graphics processing unit rental business “with no moat, dressed up as innovation.” It sees fair value for the stock at $10, or 90% downside from current levels. CoreWeave in premarket trading is up 9%, or $9.80, to $121.76. The company this morning disclosed a new order form agreement with Nvidia (NVDA). ():(https://www.kerrisdalecap.com/wp-content/uploads/2025/09/Kerrisdale-CoreWeave.pdf)