CoreWeave stock plunged nearly 12% on Friday, losing a quarter of its value over the week as concerns about its mounting debt stress intensified. The yield on CoreWeave 2031 bonds approached 16%, up from the 9.75% at issuance in April, while five-year credit default swaps exceeded 1,000 basis points, representing a 178% increase from a year ago. Bloomberg data shows implied default odds within five years at around 60%. Nvidia CEO Jensen Huang, however, said CoreWeave’s financial position remains stable and improving daily, which helped contain the damage on Thursday.
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