Coreweave, ein Entwickler von Rechenzentren, steckt in Schwierigkeiten – Kritiker sehen darin ein Frühwarnzeichen für die ganze KI-Industrie

Coreweave, a company specializing in cloud data centers for AI applications, is facing financial difficulties. The stock price fell over 20 percent in early trading on Wednesday. The situation has worsened as investors become more worried about the high interest rates Coreweave must pay to borrow money. This has caused the company's stock to drop sharply, and the company's bonds have also lost value.

Coreweave is heavily reliant on Nvidia GPUs, which are used to train and run AI models. The company's business model is simple: it buys optimized computer chips from Nvidia, puts them in data centers, and rents out the computing power to companies like Microsoft, OpenAI, and Meta. Established cloud providers like Amazon and Google are also investing heavily in AI infrastructure, but neocloud providers like Coreweave and Nebius have other successful business lines that provide a steady cash flow.

Coreweave went public in spring 2025 and does not have reserves to fund its massive purchases of Nvidia chips. The company has been taking on debt at high interest rates to finance its operations. The increased interest rates in the U.S. have made borrowing more expensive for companies, and Coreweave believes it can afford the high costs of borrowing because it expects a large demand for computing power in the years to come.

However, the company faces challenges in building data centers, as there is growing opposition from local communities and politicians to new data centers in the U.S. This could delay the delivery of computing power promised to customers and affect the company's revenue. The collapse of Coreweave would not be catastrophic as it has access to significant financial support from investors like Nvidia, but the event could serve as a warning sign for the entire AI infrastructure industry.