CoreWeave, a provider of cloud computing for AI, saw its shares decline by approximately 30% in October 2026. By October 27, the stock closed at about $59.57 after reaching a low of roughly $51.24.
The company's debt is estimated between $50 billion and $52 billion as of mid-2026. Yields on its 2030-2032 notes have risen to 15-16%, while the cost of default insurance reached 1,000 basis points.
In 2025, CoreWeave reported $5.1 billion in revenue and a net loss of $1.2 billion. As of the end of Q2 2026, the company held a revenue backlog of $104.2 billion, with an additional $25 billion in new commitments.
Nvidia has committed to purchasing unused capacity from CoreWeave through April 2032. Analysts at UBS attribute the current market pressure to challenges in financing and execution rather than a decline in demand for AI services.
