### @CRWV — Confirmed — from the earnings call guidance
Look, full-year 2026 capex is guided to $31‑35 billion, against revenue guidance of just $12‑13 billion – capex is roughly 2.6 to 2.9 times revenue, one of the most extreme ratios among large AI‑capacity spenders. Q1 2026 capex was $6.8 billion, on schedule, right? The CFO says capex shows up before revenue and cash flow. Management nudged the low‑end capex up, citing higher component pricing. The bet is the contracted backlog will convert fast enough to service the debt the capex is built on, with spend staying in construction in progress until capacity comes online.
- tier: Confirmed (✓)
- source: CRWV / CapEx shows up before revenue
- receipt: https://ticker.thevixguy.com/p/p-day-20260714-crwv-src-crwv-capex-gap-rotation
- posted: 2026-07-14T00:43:25.654Z