Changes in US stocks | AI infrastructure company stock price falls, CoreWeave (CRWV.US) falls more than 14%

The Zhitong Finance App learned that on Wednesday, the stock price of artificial intelligence infrastructure companies fell, with CoreWeave (CRWV.US) falling more than 14% and NEBIUS (NBIS.US) falling more than 10%, all of which were among the biggest losers in the NASDAQ 100 index.

CoreWeave, an AI cloud service provider supported by Nvidia, is trying to open up the insurance industry's trillion-dollar capital pool to support the expansion of AI computing power with lower costs and longer term institutional funds. Since this year, the company has raised more than 35 billion US dollars and opened up a financing channel for investment-grade chip-backed debt through a loan of 8.5 billion US dollars secured by Meta's long-term computing power purchase contract. However, by the end of June, CoreWeave's debt and lease obligations had reached US$52 billion, and the yield on unsecured bonds was close to 15%.

Jordan Chalfin, an analyst at credit analysis agency CreditSights, pointed out that CoreWeave is “very creative” in terms of financing, but as more competitors and hyperscale cloud vendors explore similar chip collateral deals, its borrowing costs may face upward pressure.