CoreWeave shares plunge 53% as bond yields and debt fears hit neocloud sector

CoreWeave shares fell to $65 in after-hours trading, down 53% from their yearly high, as rising bond yields and sector concerns triggered a selloff that erased billions in market value. The neocloud company, which grew from Bitcoin mining into a major AI infrastructure player with a $104 billion revenue backlog, faces nearly $30 billion in debt and rising dilution. Gartner warned neoclouds face major writedowns by 2030, while analysts question CoreWeave's six-year GPU lifespan assumptions versus the two-to-three years some experts suggest. CoreWeave's 2032 bonds now yield 14.3%, up from 9.4%, raising refinancing costs as interest expenses hit $640 million. The stock broke below $78.17 support and its 50/100-day moving averages, with analysts targeting $50 as the next downside level.