October 15th 2026, 3:10 PM
CoreWeave Credit Risk Soars Amid GPU Infrastructure Plans
Key Summary
CoreWeave's credit risk has reached a record high as the AI cloud provider announces plans to borrow more money for GPU infrastructure, sparking a 15-16% drop in its share price and concerns among bondholders.
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What the credit market is saying
The cost of CoreWeave's five-year CDS climbed to 1,194.5 basis points, implying a more than 60% probability of default.The selloff knocked approximately 15-16% off CoreWeave's share price.
CoreWeave faces approximately $4.4 billion coming due by the end of 2026 and $6.2 billion due in 2027.CoreWeave has a contracted backlog worth more than $100 billion and Nvidia provides a backstop for unsold capacity through April 2032.
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