CoreWeave proves Nvidia’s aging AI GPUs from 2020 can generate profit nine years after deployment, signs A100 contracts into 2029 — power constraints and legacy infrastructure keep old GPUs profitable

CoreWeave signed a contract for Nvidia A100 GPUs that runs into 2029, nine years after the Ampere-based SKU debuted, CEO Mike Intrator disclosed on the company’s second-quarter earnings call on Monday. The company reported $2.58 billion in quarterly revenue, up 112% year over year, and a $104 billion revenue backlog that excludes more than $25 billion in new commitments booked since July. In remarks made during the earnings call, Intrator said, “pricing for prior generation SKUs is at or above where it was years ago.”

Michael Burry accused hyperscalers in November of understating depreciation by $176 billion between 2026 and 2028 by stretching GPU useful-life assumptions to five or six years against a chip cadence that now delivers a new Nvidia architecture roughly every year. Concerns that accelerating GPU obsolescence could unravel AI financing predate his estimate, and an unnamed Google architect put datacenter GPU service life at one to three years back in 2024.