CoreWeave Shares Lose 25% This Week as Credit Default Swaps Top 1,000 Basis Points

CoreWeave shares fell nearly 12% Friday and lost about a quarter of their value since last Friday. Its 2031 bond yield stood near 14.5% after reaching almost 16% this week versus 9.75% at April issuance. Five year credit default swaps topped 1,000 basis points. Bloomberg data implied about a 60% default probability within five years. Nvidia CEO Jensen Huang said CoreWeave is stable and improving.