'Yikes': CoreWeave stock sinks after its bond yield touched 15%

What happened: CoreWeave (CRWV) stock fell as much as 15% after the yield on $1.25 billion of its 2032 bonds touched 15%, drawing a "Yikes" reply from Elon Musk. Selling spread to AI cloud peers Nebius (NBIS) and Oracle (ORCL). Key numbers: CRWV -13.62% at 10:50 AM EDT; NBIS -8.66%; ORCL -7%. Why it matters: A yield near 15% means investors demand a steep return to lend to CoreWeave, which funds Nvidia (NVDA) chip purchases with debt. D.A. Davidson analyst Gil Luria rates the stock Neutral with a $100 price target and said equity value could go to zero if the AI spending boom turns. Market: -15.5% today ($65.78), -17.1% YTD, 3.9x vol — as of 23:45 UTC

CoreWeave (CRWV) stock fell as much as 15% after the yield on $1.25 billion of its 2032 bonds touched 15%, drawing a "Yikes" reply from Elon Musk. Selling spread to AI cloud peers Nebius (NBIS) and Oracle (ORCL).

A yield near 15% means investors demand a steep return to lend to CoreWeave, which funds Nvidia (NVDA) chip purchases with debt. D.A. Davidson analyst Gil Luria rates the stock Neutral with a $100 price target and said equity value could go to zero if the AI spending boom turns. Market: -15.5% today ($65.78), -17.1% YTD, 3.9x vol — as of 23:45 UTC