Welcome, Weekenders!

Whenever I’m the slightest bit ill, I take to my bed and mope. If it goes more than a day or so, I assume the worst—that the end is nigh. I can’t honestly remember the last time I felt unwell for more than a couple days, but I imagine such a scenario would probably find me consulting ChatGPT about burial shrouds.

So I’d like to extend a smidgen of sympathy to CoreWeave CEO Mike Intrator. Surely, he’s been feeling poorly for nearly two weeks!

In the last 12 days, CoreWeave’s stock has been nearly halved. A confluence of factors has contributed to the rampant decline, as my colleague Dakin Campbell explained . In short, investors are worried about how rising interest rates will affect CoreWeave’s ability to raise debt, which it needs to fund its business of selling cloud computing services. They’re also concerned about whether CoreWeave can handle the costs of the mound of debt it already has.

Last week, fresh data on U.S.…