East

@EastEquity

personal investing journal

Joined August 2022

522 Following

170 Followers

776 Posts

East

@EastEquity

3 days ago

@optionscjp Been following you for a bit. Personally haven't seen this style of post but I love it. Great stuff

EastEquity retweeted

Tequesta

@TequestaChief

10 days ago

State of the Union for $CRWV: - Credit risk is plunging from lower cost of capital - Valuation is becoming cheaper by the day relative to other neocloud players (~ 7x EV / 2026 Revenue vs. ~18x for $NBIS and ~25x for $IREN) - Rapidly scaling beyond hyperscalers ($MSFT, $META, OpenAI, Anthropic) to other AI Natives (Perplexity, Cursor, Midjourney) and Enterprise & Quants (Jane Street, $CRWD), further diversifying their customer base - On a one-way train to be positive levered FCF and fully self sufficient (i.e., internal CFs will pay for all future growth Capex cycles instead of debt) by 2029/2030 The market has this name all wrong. Funding the AI infrastructure build out with credit makes much more sense than with equity You have physical assets (GPUs) that can collateralize the loans and take-or-pay agreements that provide unconditional, guaranteed revenue streams… Your alternative is getting diluted into submission via $IREN and $NBIS (neither of which have proved they can stand up even a fraction of the GPUs that $CRWV has executed on…)

$TequestaChief's tweet photo. State of the Union for $CRWV: - Credit risk is plunging from lower cost of capital - Valuation is becoming cheaper by the day relative to other neocloud players (~ 7x EV / 2026 Revenue vs. ~18x for $NBIS and ~25x for $IREN) - Rapidly scaling beyond hyperscalers ($MSFT, $META, OpenAI, Anthropic) to other AI Natives (Perplexity, Cursor, Midjourney) and Enterprise & Quants (Jane Street, $CRWD), further diversifying their customer base - On a one-way train to be positive levered FCF and fully self sufficient (i.e., internal CFs will pay for all future growth Capex cycles instead of debt) by 2029/2030 The market has this name all wrong. Funding the AI infrastructure build out with credit makes much more sense than with equity You have physical assets (GPUs) that can collateralize the loans and take-or-pay agreements that provide unconditional, guaranteed revenue streams… Your alternative is getting diluted into submission via $IREN and $NBIS (neither of which have proved they can stand up even a fraction of the GPUs that $CRWV has executed on…)$