CoreWeave ($CRWV) Implosion: CDS Blowout, Debt Crisis, Contagion Fears

What we know

CoreWeave ($CRWV) is facing a full-blown credit crisis. An account on X noted the stock is down 16%+ today and 50%+ over 5 months, with $35B in total debt and $640M in interest paid last quarter alone. Zerohedge declared "Its Going To Zero" as CRWV CDS closed +135bps in what they called 'panic selling and just get me the fukk out capitulation.' The next steps flagged: capital markets access freezes and restructuring specialists (Alix Partners) start making calls. More alarmingly, another account on X flagged Paramount CDS just took out Lehman highs and raised concerns about cross-collateralization with Ellison and Oracle. A counter-take from another account on X argues the 15% bond yields are misunderstood and the situation is being blown out of proportion. The broader AI infrastructure bubble thesis — resting on compute scarcity, infra rollout assumptions, and capex financing — is being stress-tested in real time per a viral 38-tweet thread.