CoreWeave Bond Yield Reaches 15.58% as Shares Hit 17-Month Low
CoreWeave’s 9.75% notes due October 2031 traded near 80.6 cents on the dollar Tuesday, lifting the yield to 15.58% from about 11.3% in mid-August. Shares fell 2.8% to $59.39 after touching $57.24, their lowest level since May 13, 2025.
Story updates
CoreWeave Inc. (NASDAQ: CRWV ) ‘s 9.75% notes due October 2031 traded near 80.6 cents on the dollar on Tuesday, pushing their yield to 15.58%, up from about 11.3% in mid-August. Shares were last down 2.8% at $59.39, slightly trimming losses after touching $57.24 intraday — their lowest level since May 13, 2025. CoreWeave’s stock price is now down 32% in a month, 17% this year and 57% from its June high of $138.25.
On Monday, Goldman Sachs analyst Gabriela Borges upgraded CoreWeave to Buy from Neutral while cutting her price target to $106 from $139, according to Analyst Ratings. Borges noted that CoreWeave raised computing prices by 25% in July and by another 10% in October. Goldman estimates the company’s average borrowing costs could rise by 100 to 200 basis points while returns on new projects stay attractive. HSBC disagrees.
On Monday, it kept a Reduce rating and a $39 target, estimating CoreWeave could generate about $12 million in annual revenue per megawatt in 2027, against $17 million to $18 million for larger cloud providers. Mizuho cut its target to $88 from $115 last week. Rothschild & Co started coverage in September with a Sell rating and a $54 target. The average analyst target is $135, more than double the share price.
Chart: CoreWeave’s 9.75% 10/31 yield to maturity Image: Envato Elements