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CoreWeave Falls on Report of $4 Billion Loan
CoreWeave shares fell on Thursday after a report that the company plans to raise at least $4 billion in an investment-grade loan.
Kunkafa News · Published · Updated · 2 min read
By Kareem FaridDiscuss with the author on X
Key points
- CoreWeave shares slid almost 8% in extended trading on the loan report, Newsquawk reported.
- The loan, of at least $4 billion, is led by Morgan Stanley and Mitsubishi UFJ, with indicative yields of 7.0 to 7.5%.
- Investing.com said the stock was down 14.1% before the open, reversing much of Wednesday's 24.7% rally.
CoreWeave shares fell on 12 November after a report that the company plans to raise at least $4 billion through an investment-grade loan, Newsquawk reported. The stock slid almost 8% in extended US trading.
The loan is led by Morgan Stanley and Mitsubishi UFJ, is backed by chips and contracts, and could launch next week, with indicative yields of 7.0% to 7.5%, according to Newsquawk. Investing.com, citing Bloomberg, carried the loan report. The terms are not final.
Investing.com said the stock tumbled 14.1% before the open, reversing much of Wednesday's 24.7% rally after earnings. It also pointed to the turmoil at Nvidia, where Jensen Huang resigned as chief executive on Thursday, and to a 10-year Treasury yield back near 5%. Nvidia holds about 12% of CoreWeave, per the same article.
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