Shares of cloud computing firm Coreweave (CRWV) fell greater than 8% on Friday amid issues about AI. A Friday report revealed that information heart accomplice Blue Owl Capital hasn’t secured debt financing for a mission. Blue Owl and CoreWeave partnered final yr to construct an information heart in Lancaster, Pa. Blue Owl has didn’t safe $4 billion in debt financing for the information heart mission, based on a Enterprise Insider report.
That is in distinction to what CoreWeave Chief Govt Michael Intrator instructed CNBC on Friday, the place he mentioned that the information heart is financed and on schedule. Blue Owl Capital, which is co-developing the mission, mentioned it had “thought-about” third-party financing for the Lancaster facility, as we might with any transaction, as we discover options earlier than selecting probably the most engaging path ahead.” The corporate added that the mission is already underneath building and “is totally funded, on time, and on price range.”
It stays unclear whether or not Blue Owl is funding building totally from its personal capital. If the corporate can’t increase debt for the event, it may face a considerable money outlay to finish the information heart’s building. Blue Owl has additionally partnered with Meta Platforms (META) and Oracle (ORCL) for big information heart tasks.
Fourth quarter earnings for CoreWeave inventory are due Feb. 26. Nvidia has been a strategic accomplice of CoreWeave and owns about 7% of the corporate. With Friday’s retreat, CoreWeave inventory has climbed about 23% in 2026. CoreWeave inventory superior 77% final yr however pulled again from an all-time excessive of 187 set on June 20. Whereas some analysts mission an enormous AI market alternative for CoreWeave, others fret about buyer focus and excessive debt.
