Siebert flags debt financing risks in AI infrastructure boom
CRWV•Siebert flagged financing risks in AI infrastructure, citing CoreWeave’s roughly $35.1 billion in debt as of June 30 and a 14.8% yield on its unsecured bond due in 2032.
1. CoreWeave debt risks
CoreWeave carried roughly $35.1 billion in debt as of June 30, up from $21.4 billion at the end of 2025. Its unsecured 9 5/8% bond due in 2032 yielded approximately 14.8%, compared with roughly 5.9% for its March secured loan.
2. Refinancing exposure
About $7.5 billion of CoreWeave debt matures within twelve months of June 30. Shareholders rank behind secured lenders and unsecured creditors, leaving equity investors most exposed if financing conditions deteriorate.
