CoreWeave bond yields rise above 15% after two-day selloff

CoreWeave’s bond yields rose above 15% on October 14, marking a second straight day of bond selling, according to Tradeweb data cited in the coverage. The move measurably repriced the AI infrastructure provider’s credit as holders demanded a higher yield.

In secondary-market trading, a higher yield generally accompanies a lower bond price. That does not by itself mean CoreWeave missed a payment or defaulted, and the available evidence does not identify a default event tied to the selloff. The immediate cause of the selling remained unclear; rising interest rates were identified only as a possible contributor.

The repricing comes as CoreWeave carries substantial debt to fund its data-center infrastructure. In its quarterly filing, the company reported $35.551 billion in future principal payments on total debt as of June 30. That included $4.413 billion due during the rest of 2026 and $6.184 billion in 2027. It reported carrying amounts of $31.405 billion in recourse debt and $3.663 billion in non-recourse debt, both net of unamortized discounts and issuance costs.

Net interest expense reached $1.176 billion in the first half of 2026, up 121% from $531 million a year earlier. CoreWeave attributed the increase mainly to higher borrowing levels and total debt obligations. The company also posted a $1.366 billion net loss for the six-month period.

CoreWeave used $14.874 billion of cash in investing activities during the first half, compared with $3.875 billion a year earlier, as spending increased on GPUs, networking equipment, servers, switches and other infrastructure. Cash paid for property and equipment totaled $14.1 billion, up from $3.9 billion in the first half of 2025. DataPhoenix has separately covered CoreWeave’s data-center expansion in India.

Financing activities supplied $13.985 billion of net cash in the first half, versus $4.084 billion a year earlier. The increase was driven by debt and common-stock issuance and partly offset by higher debt repayments. CoreWeave said it had $15.553 billion of liquidity at June 30 and believed its resources were sufficient to meet obligations due within one year. It also said future investments could require significant additional debt or equity financing.