An AI computing giant has bowed to politics. But this is the most dangerous signal of the AI bubble! On November 7th, CoreWeave CEO Michael Interto sent a letter to Texas Governor-elect Hinojosa, proactively seeking reconciliation. The background of this letter is extremely harsh: The Democrats had just won Texas, and a core campaign promise of the new governor was to halt the approval of new data centers. Texas is home to about a quarter of the planned AI data center capacity in the United States. CoreWeave adopted a very humble stance in the letter. The CEO's original words were: "You have clearly stated that the development of data centers must benefit Texas. We firmly support these principles." To demonstrate its loyalty, CoreWeave made three commitments: First, it will pay for the upgrade of its power grid infrastructure. The infrastructure costs for connecting the new facilities to the grid, including substation and transmission upgrades, will be entirely borne by the company and will not be passed on to Texas households. Second, it promises to reduce water consumption. The new project uses a closed liquid cooling system, with daily water consumption "equivalent to or even lower than that of a commercial office building of the same size." Third, the only goal is to preserve existing projects. CoreWeave explicitly stated that it welcomes the governor's stance of "allowing already permitted projects to continue construction." Did you understand the essence of this letter? This isn't cooperation; it's cutting losses. CoreWeave has data centers operating in Austin, Plano, Richardson, and other locations in Texas. It's not afraid of not getting new projects approved; it's afraid that once the new governor takes office, even existing, profitable facilities will be scrutinized. And the market's reaction to this "letter of reconciliation" was extremely honest. In pre-market trading on November 9th, CoreWeave fell 3.53%, trading around $44.86. Its 52-week high was $138.25, now only a fraction of that. It just hit a 52-week low of $40.58 on November 5th, a 47% drop in the past month. CoreWeave will release its Q3 earnings report after the market closes tomorrow (November 10th). It faces not only the heavy hand of Texas's approval process, but also a 16% financing cost in the bond market and a financial report with potentially widening losses. Bowing to politics might buy it some breathing room, but it won't bring back the old script of "expanding through borrowing" for AI infrastructure.