AI Infrastructure Financing Under Stress: CoreWeave Bonds Trade at Discount

CoreWeave's bonds traded at ~79 cents on the dollar with yields exceeding 15%, while its credit default swaps reached ~1,195 basis points. A user citing a bullish Deutsche Bank note says CoreWeave's existing take-or-pay contracts cover operating needs and debt repayment. The user argues that project financing can draw on customers' credit ratings, so CoreWeave would not pay 15% on that borrowing.