To put it simply, how will a company that makes no money pay back $52 billion in combined debt and lease commitments?<\/span><\/p>\n The short answer is that the company has $103.7 billion of \u201cremaining performance obligations\u201d (RPOs), 41% of which is scheduled to be paid to CoreWeave through 2028, its Q2 disclosure states. Those RPOs are \u201ctake or pay\u201d agreements that CoreWeave\u2019s customers cannot weasel out of.<\/span><\/p>\n Not everyone is a believer<\/span>. \u201cIf CoreWeave is counting on Microsoft to honor its contracts and bail them out of extreme debt and losses I have a bridge in Brooklyn I\u2019d like to sell them,\u201d Francine McKenna, the accountant and investigative journalist who has taught at The Wharton School, told Fortune<\/em>.<\/span><\/p>\n Why OnlyFans Won\u2019t Let AI Take Over<\/span> | Fortune Daily<\/span><\/p>\n The ultra-rich are piling into Rolexes, rubies and Klimts as inflation hedges\u2014but the real return may be about more than money<\/span> – Molly A. Wallace<\/span><\/p>\n \u2018Europtimism\u2019 clashes with 1 in 3 founders wanting out. We need the EU to finally become a true single market<\/span> – Sophie Dembinski<\/span><\/p>\n Gen Z founders are hiring while Boomers\u2019 corporate America freezes out\u2014\u2018I\u2019ve already proven to myself that I can thrive in this\u2019<\/span> – Muskaan Arshad<\/span><\/p>\n \u2018I told you so\u2019: China\u2019s chip sector is making breakthroughs\u2014and U.S. export controls are the reasons why<\/span> – Nicholas Gordon<\/span><\/p>\n Exclusive: \u2018I\u2019ve seen this movie before\u2019: A Michigan-raised ex-Tesla exec raises $45 million to break China\u2019s grip on batteries<\/span> – Nick Lichtenberg<\/span><\/p>\n ADP CEO Maria Black says employees who trust their CEO and senior leaders are 41% more likely to be engaged at work<\/span> – Amanda Gerut<\/span><\/p>\n Marissa Mayer: Anyone who says they know how AI will play out is \u2018either lying or arrogant or both\u2019<\/span> – Amanda Gerut<\/span><\/p>\n Supermicro promised a new CFO in December 2024. A $2.5 billion smuggling case and a co-founder\u2019s arrest later, it has one<\/span> – Amanda Gerut<\/span><\/p>\n After a grueling couple of days for tech stocks\u2014<\/span>propelled by drama and speculation around CoreWeave\u2019s debt<\/span>\u2014traders bought the dip in the last 24 hours and stocks rose globally. U.S. futures are up before the open in New York, too.\u00a0<\/span><\/p>\n Much of the gains were in non-tech stocks. While the S&P 500 gained 0.33% yesterday, the tech-heavy Nasdaq was flat, and the equal-weight S&P was up a solid 1.36%. Deutsche Bank\u2019s Jim Reid noted that \u201c378 names in the S&P 500 were higher on the day.\u201d The index remains within 1% of its record high.<\/span><\/p>\n “The selling in tech has been stopped in its tracks, while the rotation into other sectors continues. Tech stocks aren’t out of the woods yet, but rotation of this kind is just what investors need to see, even if it is a deeply painful experience for tech fans,\u201d Chris Beauchamp, the chief market analyst at trading platform IG, told <\/span>Fortune <\/span><\/i>in an email.<\/span><\/p>\n Read more here.<\/b><\/p>\n The collapse in the price of CoreWeave stock has dragged down the entire tech sector in the last couple of days, and focused investors\u2019 minds on the risks attached to AI. And although the chatter has revolved around the \u201cexistential threat\u201d of rogue AI agents, customers who aren\u2019t seeing productivity gains, AI CEOs like Dario Amodei and Sam Altman urging a slowdown in development, and the widening spreads on debt issued by CoreWeave and Oracle, Macquarie\u2019s Thierry Wizman and Gareth Berry point out that there\u2019s another set of hurdles in the system: The number of U.S. states legislating against the development of AI.<\/span><\/p>\n The pair produced these maps of where states are restricting subsidies for data centers \u2026<\/span><\/p>\n <\/p>\n <\/span><\/p>\n \u2026 And where states are banning data centers from being built:<\/span><\/p>\n <\/p>\n <\/span><\/p>\n \u201cThe approach of the U.S. mid-term elections, with its prospect of a \u2018blue wave,\u2019 may be alerting investors to the possibility that new data-center \u2018moratoriums\u2019 may be enacted at various U.S. state legislatures once the Democrats have achieved new or larger majorities in those chambers. So far, anti-AI legislation has taken the form of blocking subsidies for AI data centers. Much of that legislation is already sitting at the legislatures and ready to be (re-)voted upon early next year,\u201d they said in a note to clients.<\/span><\/p>\n <\/p>\n <\/span><\/p>\n The cost of new technology tends to fall over time as companies become more expert at making it and improving it. But the cost of AI is falling so fast it\u2019s almost charting a vertical drop, per this chart from Deutsche Bank comparing new tech pricing over time.<\/span><\/p>\n \u201cThe cost of achieving a given level of AI performance has tumbled about 47 percent a quarter, or 13 times a year, since 2023. That is four times faster than DNA sequencing, six times faster than compute, and 18 times faster than lithium batteries,\u201d Deutsche\u2019s Adrian Cox said in a recent note.<\/span><\/p>\n The growth of retail sales in the U.S. for September, if you <\/span>exclude<\/span> gasoline and automobiles. If, on the other hand, you <\/span>include<\/span> those categories, then sales were up 0.8%\u2014demonstrating how the price of oil is driving up prices.<\/span><\/p>\n \u201cCPI showed headline inflation accelerating to 3.7%, with gasoline accounting for more than half of the monthly increase,\u201d according to Chris Osmond, chief investment officer for Fifth Third Wealth Advisors. That is feeding into everything else, he said: \u201cInflation is becoming increasingly difficult to dismiss as an energy-only story.\u201d <\/span><\/p>\n Trump weighs easing restrictions on Russian and Iranian \u2018shadow fleet\u2019<\/span> – FT<\/span><\/p>\n Zelenskyy praises \u2018real leaders\u2019 in Europe, as his strained relationship with Trump overshadows EU summit<\/span> – CNBC<\/span><\/p>\n Trump names scapegoats as Republicans sweat in Texas<\/span> – Axios<\/span><\/p>\n Tesla\u2019s new roadster takes flight after nearly a decade of delays<\/span> – WSJ<\/span><\/p>\n Warsh boosts market expectations of Fed rate hold in October<\/span> – Bloomberg<\/span><\/p>\n Senators demand investigation into Ukraine satellite disruption<\/span> – NYT<\/span><\/p>\n Netflix big Bela Bajaria out after decade calling shots on shows. Peter Rice is streamer\u2019s new chief content officer<\/span> – NY Post<\/span><\/p>\n Chicago officials are weighing legal action against Barre Seid, the 94-year-old industrialist behind the largest known political advocacy donation in U.S. history, over claims that workers he hires to scatter nuts in Lincoln Park are fueling a rat infestation, <\/span>writes <\/span>Fortune\u2019s <\/span><\/i>Catherina Gioino<\/span>.<\/span><\/p>\n Alderman Timmy Knudsen said he is pushing the Chicago Park District to sue Seid for damage to the park, while Park District officials told the publication they are still weighing their options.<\/span><\/p>\n In an Aug. 25 letter to Seid, Knudsen called the matter a final warning and said city staff had received photos and video documenting Seid or his staff putting out food daily for squirrels and other wildlife, according to WGN. The letter said the feeding created a public health hazard because it drew in not only squirrels but also pigeons and rats.<\/span><\/p>\n #CoreWeave #billion #debt #lease #hole #company #beat<\/p>\n","protected":false},"excerpt":{"rendered":" CoreWeave\u2014and the vast amount … <\/p>\n","protected":false},"author":1,"featured_media":2106,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[3362,432,623,4146,373,515,516,5959,9675,166,381],"class_list":["post-6870","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","tag-beat","tag-billion","tag-company","tag-coreweave","tag-debt","tag-economics","tag-fortune-500-digest-weekday","tag-hole","tag-lease","tag-markets","tag-news"],"yoast_head":"\nMORE FROM FORTUNE<\/h3>\n
THE MARKETS<\/h3>\n
The bloodletting in stocks is stanched as investors buy the dip and rotate out of tech<\/b><\/h2>\n
\n
WHAT COULD POSSIBLY GO WRONG<\/h3>\n
AI’s next hurdle isn’t debt. It’s state legislatures.<\/b><\/h2>\n
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<\/div>\nCHART OF THE DAY<\/h3>\n
Fast, cheap, and (possibly) out of control<\/b><\/h2>\n
![\"\"](\"https:\/\/fortune.com\/img-assets\/wp-content\/uploads\/2026\/10\/Screenshot-2026-10-13-at-151653.png?format=webp&w=1440&quality=75\"\/)
<\/div>\nNUMBER OF THE DAY<\/h3>\n
0.2%<\/b><\/h2>\n
THE FRONT PAGES TODAY<\/h3>\n
ONE MORE THING<\/h3>\n
This GOP billionaire’s squirrel buffet is allegedly fueling a rat infestation in Chicago<\/b><\/h2>\n
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