Shares and bonds of Nvidia-backed CoreWeave tumbled again on Thursday despite CEO assurances about its strong deal backlog, laying bare a growing crisis of confidence in an AI build-out increasingly financed with borrowed money.
The loss-making AI cloud company, burdened with about $50 billion in debt, has become the poster child for mounting concerns that the data center boom is being fueled by credit, straining newer players and pressuring cash flows even at giants such as Alphabet and Meta Platforms.
