Shares and bonds of Nvidia-backed CoreWeave tumbled again on Thursday despite CEO assurances about its strong deal backlog, laying bare a growing crisis of confidence in an AI build-out increasingly financed with borrowed money. The loss-making AI cloud company is burdened with about $50 billion in debt and has become the poster child for concerns that the data center boom is being fueled by credit, straining newer players and pressuring cash flows even at giants such as Alphabet and Meta Platforms. CoreWeave's slump has fueled a global rout in AI stocks, underscoring investor doubts about whether future AI revenue can keep pace with the spending. The stock was last down nearly 2% after slipping as much as 8.3% to its lowest level since May 2025, extending the more than 15% slide from Wednesday and ranking among the biggest decliners in the tech selloff. "The market is waking up to the fact that AI demand and a profitable business model are two very different things," said Axel Rudo...
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