CoreWeave Drops 12.1% to $93.17 as $30 Billion Debt Load Meets Higher Rates
Updated
Updated · Yahoo Finance · Aug 18
CoreWeave Drops 12.1% to $93.17 as $30 Billion Debt Load Meets Higher Rates
3 articles · Updated · Yahoo Finance · Aug 18
Summary
CoreWeave closed at $93.17, down 12.10%, with 36.6 million shares traded—about 21% above its three-month average.
Nearly 20-year-high Treasury yields drove investors out of high-risk growth stocks and sharpened concern over CoreWeave’s debt-financed expansion.
CoreWeave spent $9.4 billion on capital expenditures in Q2 alone and carries nearly $30 billion in long-term debt to fund AI compute buildout.
AI infrastructure peers also fell, with Nebius down 7.60% and Applied Digital off 8.56%, while the Nasdaq dropped 1.33% and the S&P 500 lost 0.67%.
The selloff highlights a broader tension in AI infrastructure: companies are racing to add capacity ahead of expected revenue growth, but higher borrowing costs are making that strategy harder to stomach.