[DEVELOPING] CoreWeave bonds stay near 15-16% yields as shares hit 17-month low; Barclays argues stress is contained
CoreWeave's credit markets stayed under pressure on Oct 19-20. CNBC reported the 2032 bond yield at 14.9% and the five-year CDS near 1,082bp on Oct 19. 24/7 Wall St put total debt at $51.6B and Q3 interest expense guidance at $860M-$940M. CNN reported Barclays' Ajay Rajadhyaksha as saying the stress should not be extrapolated to the wider AI capex cycle. He estimates that if CoreWeave halved its spending, total AI capex would fall about 2%. The next marker cited is the interest-expense line in CoreWeave's Q3 results.