CoreWeave CEO Mike Intrator says the market is acting irrationally

CoreWeave CEO Mike Intrator has a message for the market: you’re getting this wrong. The head of the AI infrastructure company says investors are behaving irrationally, and that he remains confident in CoreWeave’s prospects. His defense comes as both the company’s stock and its bonds are taking a beating. A rough day for stocks and bonds On October 14, 2026, CoreWeave shares (CRWV) fell approximately 15-16%. The stock closed somewhere around $65 to $66. The selloff was tied to two overlapping worries. One is concern about how much money is flowing into AI infrastructure. The other is credit risk, meaning doubts about whether heavily indebted companies can comfortably carry their debt loads. The bond market was sending an even louder signal. CoreWeave’s unsecured bonds due 2032 were trading below 80 cents on the dollar. Their yields climbed to around 15%, in a range of 14.5% to 14.9%. Unsecured debt adds another layer. These bonds aren’t backed by specific collateral, so holders stand further back in line if things go badly. Intrator’s case: look at the backlog Intrator responded through an internal memo. He leaned heavily on the company’s contracted revenue and its business model, ...