DA Davison & Co. analyst Gil Luria believes that Meta Platforms Inc.'s plan to launch a competitive cloud business is extremely bad news for Nebius and CoreWeave, as Meta has transformed from a buyer to a seller of computing power.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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According to Bloomberg, CoreWeave is seeking to refinance at least 4 billion USD through an investment-grade loan, led by Morgan Stanley and Mitsubishi UFJ, with a syndication roadshow expected to start as soon as next week. This financing continues the structure of using Nvidia chips and customer contracts as collateral, with the yield on the issuance anticipated to be around 7% to 7.5%, much lower than its junk bond yield. Following the news, CoreWeave's shares fell nearly 5.8% after hours.
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