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CoreWeave’s stock and bonds were both hit on Wednesday as investor fear grew that some technology companies are borrowing too heavily for the artificial intelligence build-out.

Shares of the so-called neocloud nosedived 15.5%, while yields on its debt jumped higher. The yield to maturity on its 9.625% bond due in 2032 is sitting at 14.8%, while that of its 9.75% bond due in 2031 is around 14.9%. Bond yields move inversely to prices.

Reminds me of the asic race of 2021

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