CoreWeave earnings put debt-fueled AI build-out under scrutiny

CoreWeave’s upcoming earnings report is drawing attention to whether the AI computing company can manage the debt behind its rapid infrastructure expansion. Analysts are concerned that weak cash flow or a lack of major new orders could make it difficult to meet its obligations.

The company owes about $15 billion in principal payments through 2028, according to its second-quarter statement. Analyst Bob Lang said it may have a limited opportunity to extend the debt by three to five years, depending on cash flow, while raising equity could heavily dilute shareholders. CoreWeave shares have fallen more than 73% from a June 2025 peak above $183 to around $47, though analysts’ average rating remains overweight, with a $126 price target based on 39 estimates.