John Lloyd, global head of multi-sector and corporate credit at Janus Henderson, says CoreWeave can overcome market skepticism about its debt and that the bond sell-off is somewhat overdone. His Multi-Sector Income Fund holds CoreWeave 9.75% bonds due 2031, whose yield to maturity is now 15.97%, a more than 70% jump since issuance in April. The company has roughly $51.6 billion in total debt and a 702% debt-to-equity ratio, while its estimated capex this year of $36.4 billion compares with estimated Ebitda of $7.5 billion. Lloyd believes CoreWeave can fund its buildout through operating free cash flow next year, GPU-backed financing, or larger customer prepayments, and notes it has no near-term maturities. He expects the bonds to recover, though not in a straight line.
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Related tickers and likely impact
NVDA
• NeutralNvidia
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.2T |
| Close on 10/20/2026 | 216.47 |
| Change that session | -0.29% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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