CoreWeave: The former Ethereum miner that brought down the entire AI stock market

Editor: Wu Shuo Blockchain, ChatGPT TL;DR · CoreWeave stocks and bonds fell simultaneously, and computing power and chip stocks came under pressure during the same period. In mid-October 2026, the yield on some of the company's unsecured bonds rose to near 15%, and one bond due in 2031 once exceeded 16%. As of the week of October 16, the stock price fell by nearly 25%; Nebius and other similar companies fell simultaneously, and the Philadelphia Semiconductor Index fell by more than 11% that week. · The company started with Ethereum mining and now provides AI computing power to technology companies. Founded in 2017, CoreWeave launched its cloud platform in 2020 and listed on Nasdaq in 2025. Currently providing GPU clusters and supporting cloud services, customers include Microsoft, OpenAI, Meta and Anthropic. 2