UBS counters CoreWeave debt spiral narrative

UBS on tightening credit market: "Our point is that even if credit markets tighten, there are potential levers for CoreWeave to reduce its need for external debt and to access alternative capital sources, including private credit, vendor financing and potentially selling larger equity stakes (as CoreWeave did recently with Jane Street)." "We recently met with executives at providers of private credit and with data center builders in search of capital and did NOT come away with a view that capital will be scarce in 2027. Put simply, in our view, this does NOT have to be a “debt spiral” story as some have suggested." $CRWV