ASML lifts annual sales forecast as chip tool demand strains capacity
Customers are showing interest in deliveries for 2029 and 2030, while ASML says its planned production increases will not be enough.
CoreWeave CEO points to backlog's debt support as shares fall
The AI cloud provider's shares closed around 15% lower on October 14, while media reports described pressure on its bonds.
CoreWeave's backlog provides more than enough support for its debt obligations, CEO Mike Intrator said in a memo to employees. His comments came as the AI cloud-computing company's shares finished October 14 around 15% lower.
Intrator said delays and difficulties with rivals' efforts to go public and obtain debt financing were shaping perceptions of CoreWeave. He also said markets sometimes misinterpret situations and respond irrationally.
A media report described CoreWeave bond prices as having dropped to levels generally signaling distress. Another media report, which cited Trace pricing data, put the October 14 trading price of its unsecured debt maturing in 2032 below 80 cents on the dollar.
CoreWeave reported a $104.2 billion revenue backlog for the second quarter, an increase from the first quarter's $99.4 billion. Separately, the company said third-quarter net new commitments from customers exceeded $25 billion, in addition to the backlog.