CoreWeave stock plunges as bond yields spike after Gartner warning

CoreWeave's stock fell to $65 in after-hours trading, down 53% from its yearly high, erasing billions in value as investor concerns over the neocloud industry persist and bond yields surge. The decline follows a Gartner report warning neocloud firms face significant writedown risks by 2030. CoreWeave assumes GPU lifespans of six years versus analysts' estimates of two to three years, while already reporting $1.3 billion in depreciation against $2.57 billion in revenue. Its 2032 bonds now yield 14.3%, up from 9.4%, with interest costs reaching $640 million. The company, formerly a Bitcoin miner, holds over $104 billion in revenue backlog but carries nearly $30 billion in debt with rising share dilution. Technical analysis shows the stock below key support at $78.17, with next downside target at $50.