CoreWeave shares fall amid broad selloff, Bernstein target cut

CoreWeave stock dropped 3.6% in morning trading Thursday, amid the continuing AI trade cool off and Bernstein analyst Madison Rezaei reducing her price target to $51 from $74 while maintaining an Underperform rating.

The stock has declined approximately 29% in October. Reports indicate that CoreWeave's three co-founders have sold about $3.3 billion worth of stock since the company's March 2025 initial public offering, including roughly $2.4 billion in 2026.

The company's bonds continue to trade at distressed levels, with secondary market yields near 15%. Credit default swap spreads have increased as the company faces questions about financing its AI data center expansion plans.

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