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Story summary
- CoreWeave’s bonds rose to a 15% yield, sending its stock sharply lower.
- Barclays research chair Ajay Rajadhyaksha warned investors not to extrapolate CoreWeave’s debt stress.
- He compared current concerns to the 2023 regional-bank panic after Silicon Valley Bank’s collapse.
- Unsecured bonds represent a tiny slice of CoreWeave’s capital structure and AI capex.
- Goldman Sachs upgraded CoreWeave’s stock to “buy” from “neutral” in a Bloomberg-viewed note.