CoreWeave Bond Yields Hit 16% Amid $52B Debt Load as GMI Cloud CEO Calls Costs Insane

CoreWeave's borrowing costs surged in secondary trading as yields on its 9.625% notes due 2032 reached 15% before closing at 14.5%, while other company bonds traded at yields between 14.9% and 16%. By June 2026, CoreWeave's total debt and lease obligations reached approximately $52B alongside roughly $640M in Q2 interest expenses, contributing to a 15.5% stock drop to $65.78 on October 14 after founders sold $3.3B in shares since its IPO. On October 16, GMI Cloud CEO Alex Yeh called CoreWeave's bond yields "insane" compared to a 3.45% Taiwan dollar loan secured by his own AI compute company, representing a borrowing cost gap of more than 11 percentage points. CoreWeave co-founder Brannin McBee said the company is pursuing investment-grade ratings for its GPU-backed debt to access capital from insurers, while analysts remain divided over whether its contracted backlog of more than $100B offsets near-term balance sheet pressures that also weighed on Nebius and Oracle.