EL7.AI
StocksMedium•14 October 2026•
4 min read

CoreWeave shares fall 9.5% in intraday trading as AI financing concerns mount

Key Facts

1Nebius and CoreWeave shares fell 15.1% and 9.5%, respectively, during trading on the day of the news, according to a Reuters update.
2CoreWeave paid $14.1 billion to purchase property and equipment during the first half, compared with $3.9 billion in the corresponding period.
3CoreWeave's revenue backlog stood at about $104 billion at the end of June.
4AMD's data centre revenue reached about $6.7 billion in the second quarter, up 107% year on year.

CoreWeave shares fell 9.5% during trading on October 14, 2026, according to a Reuters update, as concerns grew over financing the expansion of artificial intelligence infrastructure and whether future revenue can keep pace with spending. Nebius shares also dropped 15.1% in the same update, as AI infrastructure stocks came under pressure during the session. Reuters said CoreWeave's decline fuelled a broader selloff in AI stocks amid investor doubts over future returns on spending on the technology. The agency said higher interest rates were increasing costs for companies relying on borrowing to build data centres and buy chips used to run AI. The concerns described by Reuters centred on whether future revenue could match the pace of investment and on the cost of financing the infrastructure required for that expansion.

In its results for the second quarter of 2026, CoreWeave reported revenue of $2,575 million, according to its earnings release filed with the U.S. Securities and Exchange Commission. Net interest expense for the same quarter was $640 million, part of the financial burden the company incurred as it expanded its business. The company posted a quarterly net loss of $626 million alongside its reported revenue for the period, according to the same disclosure. Those financial burdens form part of the backdrop to concerns over financing the expansion, after Reuters linked market pressure to the cost of borrowing needed to build data centres and buy chips. While investors focused on whether future revenue could keep pace with spending, the company had already reported a quarterly loss and interest expenses in its published results.

On investment, CoreWeave paid $14.1 billion in cash to purchase property and equipment during the first half of 2026, according to its quarterly report filed with the U.S. regulator. That compared with payments of $3.9 billion in the corresponding period of 2025, placing the increase in capital spending within the financial context of the company's expansion. Total liquidity at the end of June stood at $15,553 million, a figure that includes amounts available to draw under financing facilities, according to the report. In addition to its debt, the company recorded operating lease obligations of $16.3 billion at the end of the same period as part of its business-related commitments. Those obligations accompanied rising payments for property and equipment at a time when Reuters linked investor concerns to infrastructure financing and whether future revenue could keep pace with spending.

Facing market pressure, CoreWeave Chief Executive Michael Intrator defended the company's contractual position in a memo to employees on the day of the news, according to Reuters. He said the "contract backlog more than covers debt obligations," basing his response on contracted business from which the company has yet to recognise revenue. CoreWeave had said in its earnings disclosure that its revenue backlog stood at about $104 billion at the end of June 2026. The company added that the backlog excluded more than $25 billion in net new customer commitments added early in the third quarter. Intrator put debt coverage through contracts at the centre of his defence, while the concerns reported by Reuters remained focused on the relationship between future revenue and current expansion spending.

In the chip sector, AMD had reported data centre revenue of about $6.7 billion in the second quarter of 2026, according to its earnings presentation filed with the U.S. regulator. The segment's revenue grew 107% year on year, compared with about $3.2 billion in the corresponding period of 2025, according to company disclosures. AMD attributed the growth to strong demand for EPYC processors and Instinct graphics processing units, according to its quarterly report. The company said "strong demand for our processors and graphics processing units" drove growth in its data centre business during the period. The segment's results formed part of the backdrop to the selloff described by Reuters, with concerns centred on financing infrastructure expansion and whether revenue could keep pace with spending.

For the following period, AMD forecast total revenue of about $13 billion for the third quarter of 2026 in its earnings release. The company set a range of plus or minus $300 million around that forecast, according to the statement filed with the U.S. Securities and Exchange Commission. The estimate covers the company's total quarterly revenue, while the growth figures reported for the second quarter relate to its data centre segment. The forecast followed the period in which the company attributed the segment's growth to strong demand for its processors and graphics processing units. AMD thus enters the third quarter with a published revenue forecast amid the concerns reported by Reuters over financing investment in AI infrastructure.