CoreWeave Falls 5% as Burry Closes AI Short Without a Rally

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CoreWeave shares fell 5% to $90.27 midday Thursday even after Michael Burry closed his highest-profile bearish bet against the AI infrastructure complex, a move that would normally lift a heavily shorted AI name. Through his firm Scion Asset Management, Burry closed his December put options on NVIDIA without rolling into later contracts, and he has said the exit should not be read as optimism. CoreWeave Chief Executive Michael Intrator said Wednesday that newer data-center deals carry more operating margin than earlier ones and that the deal-level economics are excellent; the company's Q2 2026 revenue rose 112.3% year over year to $2.58 billion, with revenue backlog around $104 billion. The bear case has shifted to the balance sheet, with a debt-to-equity ratio of 8.94 and interest expense of $640 million in Q2 against free cash flow of negative $5.74 billion after $6.42 billion in capex. Oracle is down 3% to $157.43 ahead of its fiscal Q1 2027 earnings release after the close, with options pricing an 11% move, while Cloudflare is nearly flat at $313.57 after raising its FY2026 revenue outlook to $2.864 billion to $2.87 billion.

CoreWeave, Inc. Class A Common Stock ▼

Cloudflare Inc ▲

Oracle Corporation ±

Impact on stocks 6

Artificial Intelligence▼ · 4 stocks

CoreWeave, Inc. Class A Common Stock

CRWV

▼ NegativeCapitalrelevance

Bear case shifts to CoreWeave's balance sheet with debt-to-equity of 8.94, $640M interest expense, and negative $5.74B free cash flow after $6.42B capex.