Artem Voloskovets
The rebound followed a steep selloff in CRWV and renewed debate over whether CoreWeave’s rapid AI infrastructure growth can offset rising debt and financing costs.
CRWV Rebounds After Early Drop
CoreWeave had lost roughly 25% in the previous week before rebounding. Goldman Sachs recently upgraded the stock to Buy, while cutting its price target from $139 to $106.
| Metric | Previous | Latest |
| Previous Friday close | $61.39 | — |
| Previous-week move | -25% | — |
| Tuesday early move | -6% | — |
| Tuesday later move | — | +1% |
| Goldman rating | Neutral | Buy |
| Goldman target | $139 | $106 |
Revenue Doubles, Capex Triples
CoreWeave’s latest quarterly results show rapid growth, but spending increased even faster.
| Metric | Q2 2025 | Q2 2026 | Change |
| Revenue | $1.21B | $2.58B | +112% |
| Adjusted EBITDA | $753M | $1.51B | +101% |
| Net loss | $290M | $626M | +116% |
| Interest expense | $267M | $640M | +140% |
| Capex | $2.9B | $9.4B | +224% |
Revenue backlog reached about $104 billion.
Debt Is the Main Risk
J.P. Morgan estimates CoreWeave has roughly $50 billion of debt, including about $24 billion in committed loans. Some CoreWeave bond yields have approached 16%, increasing the cost of financing new GPU and data-center capacity.
CoreWeave’s problem is not demand. It is the cost of funding the infrastructure required to meet that demand.
From Growth Story to Financing Story
Previously, investors focused mainly on AI demand, Nvidia GPU access and revenue growth.
Now three metrics matter more:
- capex: $2.9B → $9.4B;
- interest expense: $267M → $640M;
- net loss: $290M → $626M.
CoreWeave is still growing quickly, but the market is increasingly pricing CRWV as a capital-intensive infrastructure company rather than only an AI growth stock.
The latest 1% rebound does not change that. The next major move in CRWV will likely depend on whether CoreWeave can keep expanding without pushing financing costs materially higher.
Artem Voloskovets
