CoreWeave Working to Diversify Suppliers, Says CEO Intrator

Watch CoreWeave Working to Diversify Suppliers, Says CEO Intrator - Bloomberg on Dailymotion

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00:00This is going to sound a little bit like I work in your internal audit team or in your risk team,

00:04but there is a bigger issue here of managing third-party risk as much as you can.

00:10So if your supply is tight today, what procedures are you putting in place

00:15for the event that your backlog doubles and supply is even tighter down the road?

00:21Listen, that is the question that we work on across our company continuously, right? And

00:27if you think about the messages that I was trying to communicate during the earnings call yesterday,

00:36I talked about the incredible impact of the effort that we've had to diversify our clients.

00:44We started the year with 85% of our revenue to a single client, and we are coming out of the year

00:51with our backlog, which has reached all-time highs, where no specific client is more than 35% of it,

01:01and that is down from 50% even last quarter. So you're seeing tremendous progress on the contracting

01:06side. On the supply side, when you're looking at the powered shells, the data center providers,

01:11there is no single provider of data centers that represents in excess of 20% of our 2.9 gigawatts

01:23of power that we will be delivering to the market over the next 24 months. So you're seeing a real focus

01:31by our company to diversify on both sides of the, you know, the ledger, the clients that we are delivering

01:42infrastructure to, as well as the suppliers that are delivering us the components that we need to be successful.