Appaloosa Buys 1.08 Million CoreWeave Shares, Lifts Meta Stake 55% in Q2
Updated
Updated · Yahoo Finance · Aug 21
Appaloosa Buys 1.08 Million CoreWeave Shares, Lifts Meta Stake 55% in Q2
3 articles · Updated · Yahoo Finance · Aug 21
Summary
Appaloosa opened a new CoreWeave position in the second quarter, buying 1,078,248 shares, while also adding 238,500 Meta shares to raise that stake by 55%.
CoreWeave drew the bet as AI-compute demand surged: its backlog jumped more than 246% year over year to $104 billion, with another $25 billion of commitments signed after quarter-end.
The wager carries balance-sheet risk because CoreWeave's total debt, including operating leases, exceeds $50 billion as it finances an aggressive data-center buildout.
Meta's larger weighting adds a competitive angle, with the company reportedly exploring leasing excess AI compute to third parties, potentially putting it head-to-head with neocloud providers like CoreWeave.