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CoreWeave’s blistering AI-fueled growth hides mounting peril, the article argues. The newly public data center operator posted $1.4 billion in Q3 revenue and marquee deals with Microsoft, OpenAI and Meta, yet it’s laden with about $14 billion of debt, soaring interest costs, construction delays and “material weaknesses” in controls. Critics say its rich margins rely on accounting, and its biggest customers are also building rival capacity. The company is tightly tied to Nvidia, which supplies chips, invests, and promises to buy unused capacity. Insider share sales and complex loans add concern that CoreWeave is shouldering others’ risk.

Prepared by Christopher Adams and reviewed by editorial team.