Updated on
Takeaways by Bloomberg AI
CoreWeave Inc.’s bonds have plunged to levels that typically indicate distress, in a swift move that has caught the attention of Silicon Valley leaders including Chamath Palihapitiya and Elon Musk.
The AI cloud-computing provider’s unsecured debt due in 2032 traded below 80 cents on the dollar on Wednesday, according to Trace pricing data. That’s widely considered the threshold for when a borrower is financially strained.