Changes in US stocks | Credit risk concerns remain unresolved, AI cloud service providers continue to fall, CoreWeave (CRWV.US) falls more than 6%

The Zhitong Finance App learned that on Friday, AI cloud service providers continued to decline, with CoreWeave (CRWV.US) and IREN (IREN.US) falling more than 6%, and Nebius (NBIS.US) falling more than 5%. The three co-founders of CoreWeave have cashed out more than 3.3 billion US dollars before the company's stock price collapsed. Currently, the company's bonds have fallen into a difficult range, credit default swap spreads have soared to historic highs, and market concerns about its ability to repay its debts have heated up sharply.

According to statistics on the company's filing documents, Michael Intrator, Brian Venturo, and Brannin McBee have continued to reduce their holdings on a large scale since their IPO in March 2025, with a total cash out of 2.4 billion US dollars in 2026 alone. Furthermore, the pressure on corporate debt is showing at an accelerated pace. By the end of this week, CoreWeave's 9.625% unsecured bonds due in 2032 had fallen to a face value of about 76 cents, hitting the difficult debt threshold commonly defined by the market; the five-year credit default swap spread rose to a record 1,117 basis points, implying a probability of default of 63% within five years.