GMI Cloud CEO calls CoreWeave’s 15% bond yield insane

Borrowing money is a lot easier when the lender isn’t nervous about you. CoreWeave is learning that lesson in public, with some of its bonds now yielding around 15%. On October 16, 2026, GMI Cloud CEO Alex Yeh called those yields “insane.” His comparison point was a loan his own company secured at 3.45%, denominated in Taiwan dollars. That is a gap of more than 11 percentage points between two companies selling broadly similar things: access to AI computing power. How CoreWeave’s bonds got here The pressure is concentrated in CoreWeave’s 9.625% notes due 2032. Those bonds saw yields reach 15%, and closed at 14.5% in one session. Other CoreWeave bonds were trading at yields between 14.9% and 16%. For context, the coupon on those 2032 notes is 9.625%, so the market is now demanding far more than the company originally agreed to pay. The stock market noticed. CoreWeave shares fell 15.5% on October 14, 2026, closing at $65.78. The core worry is the balance sheet. CoreWeave’s debt and lease obligations totaled approximately $52 billion by June 2026, and the company reported second-quarter interest expenses of approximately $640 million. Why Yeh’s comparison stings Yeh’s remark was more ...