GoKawiilCoreWeave bonds hit distressed territory, shares drop 20%
CoreWeave's bonds fell into distressed territory last week, with yields demanding 1,000 basis points above government bonds, and its shares dropped more than 20 percent since the prior Tuesday's close. Investor Chamath Palihapitiya publicly questioned whether the AI buildout represents a credit bubble after spotting the distressed debt, while cofounder Brannin McBee told the Financial Times the company wants an investment-grade rating to borrow from insurers' 'unlimited' capital.