Debt-fueled expansion begins to backfire! "The canary in the AI trade" CoreWeave (CRWV.US) CDS breaks through 1,100 basis points, implied default rate reaches 64%

Zhito Finance APP notes that on Thursday, the cost of insurance against defaults by technology companies hit a record high, as investors rushed to hedge against the risk of mounting credit stress in the AI trade, with heavily indebted data center operators such as CoreWeave (CRWV.US) hit hardest.