Squawk on the Street · Nov 11, 2026 · 15m · 9m saved
With Mike Intrator, Co-Founder, Chairman and CEO of CoreWeave
Photo via forbes.com
CoreWeave's remaining capacity for 2027 is 10 times oversubscribed. Mike Intrator, co-founder, chairman and CEO of CoreWeave, told Jim Cramer, Carl Quintanilla and David Faber on CNBC's Squawk on the Street that demand for AI computing still outruns what the world can build.
Some analysts read the AI build-out as late-stage, with chips that lose their value within a few years. Mike's evidence runs the other way: Nvidia H100 chips first contracted four years ago have been re-contracted at a 20% to 50% premium.
"We are 10x oversubscribed to the existing capacity that we have left in 2027." — Mike Intrator
As the co-founder running CoreWeave, Mike signs the contracts and sets the prices behind those figures, and he used the interview to disclose, for the first time, that he has stopped his planned share sales.
The full segment is covered here so you can skip it. 15 minutes of audio, 6 minutes of reading.
Here are the 7 takeaways that matter.
Key Takeaways
CoreWeave is 10x oversubscribed on the capacity it has left for 2027
4-year-old H100s have been re-contracted at a 20–50% premium, against the view that AI chips become worthless
Interest expense rose 20% while adjusted operating income rose 300% this quarter
CoreWeave raised $9B in customer prepayments and deposits when high-yield debt got expensive
CoreWeave raised prices 25% in July and another 10% later in the quarter
Mike has canceled his 10b5 share-sale plan, which he disclosed for the first time on air
Mike declined to judge Nvidia's probe of Jensen Huang, saying Nvidia is not one person
1. 10x Oversubscribed for 2027
Mike rejected the view that the AI infrastructure build-out is late in its cycle. CoreWeave's remaining 2027 capacity is 10 times oversubscribed, and 2028 is oversubscribed by "multiples."
Mike Intrator says demand for AI infrastructure is larger than the world can supply
"The demand for this infrastructure... outpaces the world's capacity to deliver infrastructure." — Mike Intrator
US political pressure, including talk of slowing new data centers, has not changed CoreWeave's plans. Mike cited a commitment from Texas's governor-elect that facilities already permitted or under construction will continue.
"We don't see any impact on our ability to deliver the data centers within the U.S... required for us to deliver on our backlog." — Mike Intrator
