Crusoe CEO calls the new-cloud selloff an overreaction, backing CoreWeave

According to a Wallstreetcn report on October 27, 2026, Seawolf Capital, an investment firm co-founded by figures portrayed in the movie The Big Short, publicly announced a short position against AI compute rental company CoreWeave. Seawolf Capital co-founder Vincent Daniel disclosed in a Substack post that the firm had established the short position and drew an analogy between CoreWeave's business model and that of asset rental companies. The stated rationale covers two main points: the economic lifespan of GPUs may be far shorter than that of oil rigs, aircraft or shipping equipment, and competitive chip supply is expanding at a rapid pace, which raises questions about CoreWeave's competitive moat. Seawolf Capital stressed that the bet is not a negative view on AI as an industry but a judgment about capital availability and financing costs, arguing that technology companies are competing with governments for financing resources and that monetary tightening means CoreWeave's model becomes unsustainable if it cannot keep funding itself at low cost. The report also noted that CoreWeave's shares had fallen recently amid market concerns over its debt issues. At this stage the story stands at the point of Seawolf Capital's public disclosure and argumentation, with no subsequent response from CoreWeave or disclosure of any change in the position.