CoreWeave Default Protection Costs Top 1,000 Basis Points Even as Nasdaq Rebounds

CoreWeave credit default swaps widening past 1,200 basis points while the Nasdaq rallies signals a sharp divergence: credit markets are pricing real AI-capex funding and refinancing risk that equity investors are ignoring. Elevated protection costs raise borrowing expenses for leveraged AI infrastructure borrowers and risk spilling into neocloud peers, chip suppliers and power names. The November 10 earnings print is the near-term catalyst for repricing AI-linked credit and equity risk.