CoreWeave debt insurance costs hit record as shares slide
Image: Primary The cost of insuring CoreWeave's debt against default passed 1,000 basis points this week, a record, Reuters reported Friday, citing S&P Global Market Intelligence data. A bond due in 2031 briefly yielded above 16% on Thursday, while the AI cloud provider's shares were down more than 15% for the week at Thursday's close.
The loss-making company owes about $50bn. Chief executive Mike Intrator told staff Wednesday that signed-deal backlog more than covers its debt. Nvidia has agreed to buy CoreWeave's unsold computing capacity until April 2032.
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