CoreWeave's $35 Billion Debt Gamble Exposes AI Infrastructure Financing Boom

GPU cloud provider CoreWeave has accumulated $35 billion in debt to fund its explosive expansion, emerging as an early bellwether for how the AI industry's massive infrastructure buildout will be financed—and the risks that accompany it. The company, which rents specialized cloud computing capacity to AI labs and enterprises, has aggressively tapped high-yield debt markets to purchase NVIDIA GPUs and build data centers, a funding model that has drawn outsized attention from Wall Street as AI capital spending dominates corporate bond issuance.