CoreWeave shares and bonds slide on mounting AI debt fears.
Context
What happened: CoreWeave shares and bonds fell further as concerns mounted over AI build-out financed by debt. The stock fell 7.5% in early trading after dropping more than 15% on Wednesday, despite CEO assurances on its deal backlog.
Key numbers: About $50 billion in debt.
Why it matters: The slump fueled a global rout in AI stocks, underscoring investor doubts that future AI revenue can keep pace with spending. Gartner said about 80% of neoclouds could shut down by 2030, and over $3.5 trillion of AI infrastructure spending could face impairment.