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In a interview Wednesday with CNBC's Jim Cramer , CoreWeave CEO Michael Intrator brushed off concerns that the company's deals with other artificial intelligence giants are circular investments, saying such a narrative is "fundamentally flawed."

"The reality of the situation is, really large, really important technology companies across the space are buying infrastructure to deliver it to their clients — Meta, Microsoft, you know, Amazon, Google," Intrator said. "I mean, the largest tech companies in the world are purchasing this infrastructure because they have demand. There's nothing circular about that."

CoreWeave, which sells cloud infrastructure for AI, went public in March. It was the biggest U.

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