CoreWeave slides 12% as five-year CDS tops 1,000 basis points

CNBC+1 · 5 hours ago
CoreWeave slides 12% as five-year CDS tops 1,000 basis points
  • CoreWeave fell nearly 12% on Friday, Oct. 16, 2026, renewing a decline that has dominated trading, and has lost a quarter of its value since last Friday's close.
  • Five-year CoreWeave CDS exceeded 1,000 basis points, up nearly 19% this week and 178% above levels from 12 months ago.
  • The CoreWeave 2031 bond yield almost reached 16% this week and stood near 14.5% Friday, versus a 9.75% yield at its April issuance.
  • Bloomberg-cited CDS pricing implies roughly 60% odds of a CoreWeave default within five years.
  • Nvidia CEO Jensen Huang said Thursday that CoreWeave's financial position is stable, a comment that reversed Thursday's earlier losses before Friday's selloff.

Quotes

“improving every day.”— Jensen Huang
“The stock is getting obliterated even though an actual default might never happen.”— CNBC

Sources