CoreWeave drops as debt load compounds AI build-out concerns

IREN

16/10/2026 09:51

** Shares of Neocloud firm CoreWeave CRWV.O fall 3.8% to $67.1 premarket
** Stock on track for its worst week since mid August 
** CRWV down 15.1% for the week as of last close
** Co's $50 bln debt load and the broader cost of the AI build-out have raised investor concerns, causing shares to slump
** The slump has fueled a global rout in AI stocks, with concerns that future revenue from the technology may not keep pace with heavy spending
** Other neocloud firms also declined with Nebius NBIS.O and IREN IREN.O down about 0.5%
** 31 of 45 brokerages rate the stock "buy" or higher, 12 "hold" and two "sell" or lower; median PT is $147.50
** As of last close, CRWV down 2.7% YTD

 (Reporting by Anand Gopal in Bengaluru)
 ((AnandGopal.R@thomsonreuters.com))