CoreWeave's debt is becoming the whole AI industry's problem

CoreWeave's bonds have slipped into distressed territory, with investors demanding 1,000 basis points more in yield than on government debt. Its shares are down more than 20% since Tuesday's close, while the company owes over $35 billion and lost more than $1 billion in the first half of the year.

• CoreWeave bonds in distressed territory with spreads above 1,000 bps
• Shares down more than 20% since Tuesday's close
• Company owes over $35 billion and lost over $1 billion in H1
• Customer remaining performance obligations total $103.7 billion