CoreWeave (CRWV) Stock Plunges 15% as Musk Replies “Yikes” to Bond Yields

TLDR CoreWeave (CRWV) stock fell 15% to $65.78 on Wednesday as yields on its 2031 and 2032 bonds rose to about 15%. CEO Mike Intrator told staff the market is acting “irrationally” and said the company’s backlog covers its debt. Second-quarter net interest expense hit $640 million, and the company posted a $626 million net loss. Oracle fell 9%, Nebius dropped 10%, Dell lost about 11%, and the Nasdaq Composite closed down 2%. ARK Invest bought 188,665 CoreWeave shares worth about $12.4 million on the dip. CoreWeave (CRWV) stock closed at $65.78 on Wednesday, down 15% on the day. The drop came as yields on the company’s bonds climbed close to 15%. CoreWeave, Inc.

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