AI
CoreWeave's bond slide puts the debt behind the AI build-out in focus
Shares of Nvidia-backed cloud provider CoreWeave steadied on Thursday after a sharp slump, leaving investors focused on the borrowing that increasingly funds AI data centres. The loss-making company carries about $50 billion of debt, its bond yield traded near 15 percent, above the usual distress signal, and the cost of insuring that debt implies a nearly 63 percent chance of default within five years. CEO Mike Intrator told staff the deal backlog covers its obligations and that markets sometimes act irrationally; Nvidia's Jensen Huang said the company's financial strength is improving.