CoreWeave shares and bonds slide on AI debt concerns

CoreWeave shares fell more than 15% for the week, their steepest weekly drop in about two months, and are on track to lose a fifth of their value in October. The yield on its 2031 bond briefly topped 16%, while the cost of insuring its debt against default passed 1,000 basis points. The company is loss-making and owes about $50bn.

• CoreWeave shares fell more than 15% for the week
• Yield on its 2031 bond briefly topped 16%
• Cost of default insurance passed 1,000 basis points
• The company owes about $50bn