TradingKey – On November 4, US Eastern Time, CoreWeave (CRWV) shares fell about 10% again, hitting a record low since early May 2025, with several of the company’s bonds tumbling in tandem. Democratic candidates who advocate slowing data center construction won gubernatorial elections in states including Texas, prompting investors to reassess the risks of its data center expansion plans.

For CoreWeave, new pressure stems from the compounding impact of construction timelines and capital costs: if capacity delivery is delayed, revenue realization could slow while financing needs persist.

According to reports, TRACE trading data showed that CoreWeave’s unsecured bonds maturing in 2031 fell as low as 79.5 cents on the dollar on Wednesday,…