Shares of AI player CoreWeave sink on debt worries
Shares of US data center operator CoreWeave plunged Wednesday on worries over its huge debt pile in a period of rising interest rates.
The New Jersey company, which builds data centers and loans the operations to tech giants like Meta or Microsoft, finished down 15.5 percent at $65.78.
The company has turned to debt to finance hefty purchases of pricey semiconductor chips from Nvidia. CoreWeave had $35.6 billion in debt at the end of June, according to US securities filings.
