In a world where macroeconomic headwinds—stagnant growth, inflationary pressures, and trade tensions—have sent investors scurrying to defensive positions, two companies stand out as contrarian bets: CoreWeave (CRWV) and MercadoLibre (MELI). Both are positioned to thrive in their respective domains—AI infrastructure and Latin American e-commerce—despite short-term market jitters. For patient investors willing to look beyond the noise, these stocks represent rare opportunities to capitalize on secular trends with resilient, high-growth models.

CoreWeave's first-quarter 2025 results were a masterclass in contrarian investing. While its net loss widened to $314.6 million—a figure that spooked some investors—the real story lies beneath the surface. The company's Adjusted EBITDA soared to $606.1 million (a 62% margin), underscoring operational efficiency. More importantly, CoreWeave's five-year, $11.9 billion deal with OpenAI and a $25.9 billion revenue backlog signal a structural shift: it's not just a vendor but a strategic partner to the AI revolution.

The company's moat is its ability to scale infrastructure at a pace no cloud giant can match. In Q1, it added 300 MW of contracted power, bringing total capacity to 1.6 GW—a move that positions it to meet surging demand for GPU-powered compute. Even as macroeconomic fears linger, the AI sector's growth is inexorable. NVIDIA's GPUs, which CoreWeave relies on, are already in chronic deficit, and companies like IBM (which signed a deal with CoreWeave) are outsourcing their AI needs rather than building costly in-house solutions.

The data shows a 420% jump from Q1 2024, but the real value is in its backlog: $25.9 billion in committed contracts. This isn't a fly-by-night trend. For contrarians, the stock's recent dip—despite record results—is a buying opportunity. The market is fixated on the net loss, which includes $177 million in one-time IPO-related stock-based compensation. Strip that out, and CoreWeave is already profitable.

MercadoLibre, meanwhile, is Latin America's Amazon—and its dominance is staggering. Q1 2025 revenue hit $5.9 billion, a 37% year-over-year surge, with unique buyers rising 25% to nearly 67 million. Yet the stock has faced headwinds: fears of inflation in Brazil, Argentina's economic instability, and NPL concerns in credit portfolios. Here, too, the market is missing the forest for the trees.

The company's network effects are its secret weapon. Mercado Pago, its payment system, now has 64 million monthly active users, while its logistics arm, Mercado Envíos, ensures fast, reliable delivery across the region. In Argentina—a market where GMV surged 126%—MercadoLibre's brand loyalty is unshakable, even as the peso fluctuates.

The company's fintech ambitions are equally compelling. With a credit portfolio up 75% to $7.8 billion and assets under management soaring 103% to $11.2 billion, MercadoLibre is building a financial ecosystem that rivals traditional banks. Its bid for a banking license in Argentina, if granted, could lock in even greater control over the region's financial infrastructure.

The numbers tell a clear story: MercadoLibre's revenue is growing faster than the regional e-commerce market itself. Even as competitors like Nu and StoneCo chip away at margins, MercadoLibre's scale and brand power keep it untouchable. For contrarians, the stock's P/S ratio of 3.91X—double the industry average—reflects confidence in its long-term trajectory, not overvaluation.

Both stocks face short-term headwinds: CoreWeave's net loss and MercadoLibre's inflationary risks. But these are distractions. CoreWeave's backlog and margins prove its model is self-sustaining; MercadoLibre's network effects and regional reach make it a de facto monopoly.

Notice how both have outperformed the broader market despite macro fears. This is a pattern contrarians should exploit: buy the dip.

For investors with a 3–5-year horizon, CoreWeave and MercadoLibre are asymmetric bets. CoreWeave's AI infrastructure is the backbone of the next tech cycle; MercadoLibre's hold on Latin America's digital economy is unassailable.

Both stocks thrive on trends that outlast economic cycles: AI adoption and digital commerce. In a volatile market, these are the buys to make when fear reigns.

Markets often punish the present and reward the patient. CoreWeave and MercadoLibre are exceptions to the rule—they're already the future.