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Neocloud CoreWeave’s bonds are distressed, and so am I.
The company’s unsecured debt due in 2032 is now trading below 80 cents on the dollar, Bloomberg reports. “Yikes” is right, Elon — if CoreWeave crumbles, other debt-laden neoclouds might be in trouble, too.
CoreWeave is in many ways the poster child of the current AI buildout, which may have disastrous consequences if things don’t go as planned.
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