CoreWeave is due to report quarterly results on Tuesday, followed by Nebius on Thursday, as investors grow concerned about tighter credit for financing purchases of artificial intelligence systems. At the end of June, CoreWeave held $5.5 billion in cash and $35 billion in debt, with some borrowings carrying interest rates as high as 15%. Yields on its bonds maturing in 2031 rose above 16%, while the spread on its five-year credit default swaps climbed above 1,240 basis points. The company is expected to post quarterly revenue of $3.55 billion, up about 160% from a year earlier, but must convince markets that it can finance its expansion and generate profits.
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