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On October 14 local time, shares and bond prices of artificial intelligence cloud service provider CoreWeave plummeted. CEO Mike Intrator stated in an internal memo that the market's performance was 'irrational' and emphasized the company's robust business model, noting that existing contracts are sufficient to cover debts. On the same day, CoreWeave's stock price dropped 15% to $65.78, marking its largest single-day decline since February. Intrator believes that the challenges some peers face in going public and securing debt financing have heightened market concerns about CoreWeave. He stated that the company outperforms its competitors in execution capability, revenue scale, customer base, and software solutions, and will further address market doubts during the next earnings call.
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