Market Update

CoreWeave Earnings and the AI Data Center Debt Question: What Investors Should Know

By Corey HinklePublished November 11, 2026

The short answer

On November 11, 2026, Corey Hinkle's market update looked at CoreWeave after its earnings: revenue against rising interest expense, its bond yields, investor psychology, and insider stock sales. He says CoreWeave is not in Ankerstar Wealth's models. These are his opinions for education, not forecasts or advice.

Full video transcript

Thanks to some comments made from CoreWeave during their earnings yesterday, that stock is up 20% today and the entire AI rally space is kind of rejoicing in that and up very big on the day. I'm not going to dig into a lot of AI companies today. I'm going to just show you four really important things to know about Core Weave. I want you to be the judge for yourself on what you think when you see some of these things. Now, I'm not going to intentionally be bearish or bullish. I'm going to just try to lay out the way I'm looking at this and then how that, you know, I want you to truly be your own judge. Now, Core Weave is not included in any of our models here at Ankerstar Wealth. But we recognize that Core Weave is the poster child for data center build out debt problems. It's that stock. And when Core Weave can relieve and soften some of the fears around their ability to just stay solvent at this point, that bodes well for the entire ecosystem, the AI rally ecosystem. So while it's not included in models, you know, specifically could be in a small cap fund or a a mid-cap fund or some other momentum fund, something like that. While it could exist somewhere, it's just not a standalone part of our models, but we recognize the importance of it. So let's dig into that. We'll look at a little market update and then be done for the day. All right, so So mark it up about 1% on the day. Bonds up back to 5%. That's that level we don't love to see. So hopefully we don't set new highs there, but we are back to 5% on the US 10-year. Oil after what was really kind of a shocking drop is back higher today. Sneakily here, the metals, silver Did you notice where it stopped going down? It stopped going down at $50 and gold seems to have been holding $4,000 there. Internally, Jaden and I even spoke about this briefly this morning. We might look at it as an investing team later this week, but the metals might be at an interesting entry point here. They might be presenting some interesting opportunity here. Again, it's something that we monitor. We monitor thousands of things, hundreds of things, but the metals are one of those things that seem to be We'll say shining. There you go. We'll do the pun intended. All right. And Bitcoin kind of holding in there on the day up, which is nice because it had caught a little softness recently. All right, Coreweave. Four things I want you to know about Coreweave. One, Coreweave stock is up 22% today. And you can see all of the data center, what's called the Neo Clause. They're just data center specific companies. Some of them switched over from being Bitcoin mining companies or cryptocurrency mining companies. They switched over to be AI data center companies because they had some of the infrastructure already in place. So that's kind of the origin of some of these. Up big today, the entire ecosystem, not only here, right? It's Nvidia, it's AMD, it's SanDisk, it's any of those companies that you can name. They are up today. and it's on the back of these CoreWeave earnings. Now, CoreWeave, I think the most promising part of the earnings was that they are going to be moving away from issuing further bonds. So that's important because people are literally worried about whether or not CoreWeave can remain solvent. So issuing no new bonds would certainly not hurt the idea that we want you to be able to pay your bills. But if we go look at Core Weave's earnings, I want you to be the judge, okay? This is what I see. If you look at the three months ended September 30th, a year ago, you had 1.3 billion in revenue, 1.3 billion in operating expenses. In this quarter this year, you have $3.66 billion in revenue, $3.45 billion in operating expenses. So did the operating expenses go up dollar for dollar with revenue? Not exactly. but pretty close. They technically do have a little bit of operating leverage here that showed up with the scaled revenue. So that is good. We'll take that. Unfortunately, to generate additional revenue, they can only do that by taking on significant debt. So a year ago, because, and this is their interest expense on the debt. I don't think this is debt principle. At all, I think this is just their interest expense, as it says. Because they had to issue so much debt in order to grow their revenue that has a tiny bit of operating leverage, just a tiny bit, the interest expense went from $310 million in the year ago quarter to $846 million in this quarter. So if you don't have to pay for anything, The business seems, on an operating basis, OK. But unfortunately, they have to pay for things and they have to take on debt to do that. And so instead of losing 100 million, like they did in the year ago quarter, they lost 700 million this quarter. Is this a sustainable business? Is this a business you want to own? You have, I want you, you know, you can be the judge of that. The stock is up 22% today. So a lot of people are out there looking and saying, I want to own, I want to own. Okay. I look at it and I'm, and the things I see just give me, you know, a little bit of pause. Now, if they're leaving the debt markets, when Jaden and I were kind of reviewing things this morning, he said... They did, they say they're going to be leaving the bond markets to an extent. Jaden made the comment, well, that might be because they have to. And it's like, well, yeah, that's a good point. One interesting thing, this is bullish for CoreWeave, I would say. This is bullish. CoreWeave took on significant debt. So these are their bonds. This is the next thing I wanted to show you. Their bonds are currently yielding 16, 15 and 16%. So significant yields for people buying those bonds right here. If you think they're going to make it, you might even get better returns buying their bonds here than by buying their stock, because you could get 16%. All the way out to, what's this one? When does this one mature? 2031. 16% each year out to 2031. Hey, that's pretty good. If they can pay it. So, so. The good thing for Core Weave is not the 16%. That's bad for Corey. That means they've kind of been shut out of the bond market, as Jaden alluded to. The good thing for Core Weave is they issued these bonds at like a 6% coupon. Oh, 9% coupon on this one. Let's look at this next one. 9.75%, 9.6%, 8.5%. And then some others as well. So they issued the bonds at much lower interest rates. The bonds have just lost value, so the yields went way up. They don't have to pay 16% though on this money in interest. They have to pay the 8 to 9% or maybe even less. I thought they got some of the 6% at some point. But Anyway. I just want to say that the bond stuff, it's not good for raising more money, but it's not bad for Coreweave in a sense. It's kind of like, hey, you know, we were supposed to pay 15%, but we got it at 8, 9%. So that could be viewed as bullish for Coreweave. On a chart, I want to show you the chart. On a chart, you've seen a lot of activity here. We'll call it between really $65 to $70 a share. Now keep in mind, people were buying the stock in December, January, right? Every month. Most people are down. bad Encore we've stock. If you bought it yesterday, you're having a great day. If you bought it anytime. before November of 2026, you are not having much fun. So the people who bought it in the last couple weeks, doing all right. People who bought it up to October of 2026, you know, they're down on it. So you think investor psychology There's going to be some people who own CoreWeave. They're looking for the exits on the way up. And that's hard, makes it hard for a stock to rally when lots of folks are down on it and they're kind of looking for the exits. That's not a reason not to own a stock. It's just a psychological fact for the people who are already exposed. All right. Somebody, you can rest assured, somebody logged into their portfolio in the past couple of days and they've had the thought, wow, I have too much core weave exposure. And so again, those are the people who, they're on the other side and that can create friction on the way up. It's not a reason not to own a stock, it just exists. All right, and last thing here, What has the CoreWeave CEO done with his stock, his employee compensation stock? He has sold, this has been like a pretty famous story. The guy has dumped almost a billion worth of stock from his personal share ownership over the past, you know, year or so. Since the IPO, it hasn't been a publicly traded company for very long. I think that says a lot. I think that says a lot because this entire company has a market cap of what? What's the market cap? 30 billion, 32 billion. And that guy alone has dumped almost a billion worth of stock. Now, supposedly he came out yesterday and said he's done. He's done dumping stock. But I don't know. I think that says a lot when a CEO is doing that to their own company while common shareholders are getting beaten up really bad. That says a lot about the priorities of the management team, in my humble opinion. So that's kind of what I wanted to show you about Core Weave. Today's a great day for the AI rally. We'll be watching that closely. There's still quite a few stocks that are not really back to being healthy at this point. So we watch that closely and we'll adjust accordingly. Now, what is healthy? The S&P 500 still looks really good, really good. So you can't debate that. And that's sort of the background.

Why Did the AI Rally Jump After CoreWeave's Earnings?

Corey says comments CoreWeave made during its earnings report the day before sent the stock up roughly 20% to 22% on the day of recording, and that much of the AI-related part of the market rose sharply with it. He does not go through many AI companies. Instead he walks through what he considers the important things to know about CoreWeave, and he asks viewers to judge for themselves. He says he is not trying to be bearish or bullish.

He says CoreWeave is not included in any of Ankerstar Wealth's models. He notes it could exist inside a small-cap, mid-cap, or momentum fund, but it is not a standalone part of the models. In his view, CoreWeave is the poster child for concerns about debt used to build out data centers, so when the company eases worries about its ability to stay solvent, that may be good for the wider AI ecosystem. These are Corey's characterizations as of November 11, 2026, and this recap does not verify or endorse them.

Market Update: Stocks, Bonds, Oil, Metals, and Bitcoin

Corey says the market was up about 1% on the day. He adds that the 10-year Treasury yield was back near 5%, a level he does not love to see, and that he hopes it does not set new highs. Oil moved higher again after what he calls a shocking drop.

On metals, he notes that silver stopped falling near $50 and that gold appears to be holding near $4,000. He and a teammate discussed the metals briefly that morning, and he says the investing team might review them later in the week, since they may be near an interesting entry point. He frames this as one of the many things the team monitors, not a recommendation or a plan to act. He also says Bitcoin was holding up and higher on the day after some recent softness. A single day's move does not predict what happens next.

What Are Neoclouds, and Why Did They Rise Together?

Corey describes neoclouds as data-center-specific companies. Some began as cryptocurrency mining companies and switched to AI data centers because they already had part of the infrastructure in place. He says the whole group was higher on the day, as were large chip and memory companies, on the back of the CoreWeave earnings. This recap names no other securities.

What Did the Earnings Show About Revenue and Interest Expense?

Corey compares the three months ended September 30 of last year with the same quarter this year. He says revenue grew from about $1.3 billion to $3.66 billion, while operating expenses grew from about $1.3 billion to $3.45 billion. Expenses did not rise dollar for dollar with revenue, so in his view the company shows a small amount of operating leverage as revenue scaled.

He then points to interest expense on the company's debt, which he says rose from $310 million in the year-ago quarter to $846 million this quarter. Because the company has taken on significant debt to grow revenue, he says it lost about $700 million this quarter, compared with about $100 million in the year-ago quarter. He asks whether that is a sustainable business and whether it is one a viewer wants to own, and leaves it to the viewer. He says what he sees gives him a little pause. These figures are as Corey presents them in the video and should be checked against the company's own filings.

Why Did the Move Away From New Bonds Matter?

Corey says the most promising part of the earnings was that CoreWeave plans to move away from issuing further bonds, since people have been worried about whether the company can remain solvent. He adds that a teammate observed the company may be leaving the bond markets partly because it has to, and says that is a fair point. Management comments about future financing are plans, not guarantees, and they can change.

What Do CoreWeave's Bond Yields Say?

Corey shows that CoreWeave's bonds were yielding roughly 15% to 16%, with some maturing as far out as 2031. He says yields that high mean the company has effectively been shut out of the bond market, which is not good for raising more money. A yield that high reflects how the market is pricing risk, and bonds can lose value or default.

He also notes the other side of the picture. The company issued those bonds with much lower coupons, which he cites in a range of roughly 8% to 9.75%, and the bonds have since lost value, which pushed the yields up. So the company is not paying 15% or 16% on that money. In his words, that could be viewed as a positive for the company in a sense, even though it does not help it raise new funds.

How Might Investor Psychology Affect the Stock?

Looking at the chart, Corey says a lot of trading activity has occurred between roughly $65 and $70 a share, and that many people bought during the past year. In his view, anyone who bought before November 2026 is likely down on the position, while those who bought in the last couple of weeks are doing better.

He suggests some holders may be looking for the exit on the way up, and that this can create friction for a rally. He says it is not a reason to avoid a stock, only a psychological fact about the people already exposed. Investor behavior is hard to predict, and it is one of many factors that affect a share price.

What Did Corey Say About Insider Selling?

Corey says CoreWeave's CEO has sold close to $1 billion of stock from his personal holdings since the IPO, which he calls a fairly famous story, against a total market value he puts at roughly $30 billion to $32 billion. He says the CEO reportedly said the day before that he is done selling. In Corey's humble opinion, large insider selling while other shareholders are being beaten up says something about the priorities of the management team. This is his opinion as of November 11, 2026. This recap has not verified the amounts and does not endorse the view.

What Is the Common Thread?

Corey closes by calling it a great day for the AI rally, and says the team will keep watching it closely. He notes that quite a few stocks are still not back to being healthy, and that the S&P 500 still looks very good to him. The common thread of the update is that a big one-day move is not the whole story. Revenue growth, interest costs, how a company funds itself, who holds the shares, and what insiders are doing may each deserve a look before drawing a conclusion, and none of them can guarantee an outcome.

For most households, the planning questions are broader than any one stock. How much of a portfolio sits in a single theme, how debt-funded growth could affect that theme, and whether a retirement income plan could withstand a large decline in a concentrated position are all worth reviewing. A well-built investment plan may help manage concentration risk, though no plan can remove the possibility of loss.

Educational Disclaimer

This market update is a financial education presentation. It is not personalized investment advice, and it does not recommend buying, selling, or holding CoreWeave or any other security. Do your own due diligence before acting on anything you read or hear here. The opinions expressed are Corey's alone, and investing involves risk, including the possible loss of principal. More disclaimer information is available on the Disclosures page.

Put Market Context in Service of Your Plan

Headline moves in a popular theme are most useful when they prompt better planning questions, such as how concentrated your holdings are and whether your portfolio matches your time horizon. Explore the firm's financial planning approach, or contact Ankerstar Wealth to discuss how these themes relate to your own planning questions. Any decision should reflect individual circumstances and a full review of risks, taxes, and trade-offs.

This article is general information, not personalized investment, tax, or legal advice. Your situation is specific to you — talk to a qualified professional before acting on anything here.

Frequently asked questions

Does this update recommend buying or selling CoreWeave?

No. Corey asks viewers to judge for themselves and says he is not trying to be bearish or bullish. This recap does not recommend buying, selling, or holding any security, and the right approach depends on individual goals, taxes, time horizon, and tolerance for loss.

Is CoreWeave in Ankerstar Wealth's models?

Corey says CoreWeave is not a standalone part of the firm's models. He notes it could appear inside a small-cap, mid-cap, or momentum fund. That statement is as of November 11, 2026, and is not a recommendation about any holding.

What did Corey say about CoreWeave's revenue and interest expense?

Corey says revenue grew from about $1.3 billion to $3.66 billion year over year, while interest expense rose from $310 million to $846 million and the quarterly loss grew from about $100 million to about $700 million. These are his figures from the video, and the company's own filings are the source to check.

What is a neocloud?

Corey describes neoclouds as data-center-specific companies. Some started as cryptocurrency mining companies and moved into AI data centers because they already had some of the infrastructure. Companies concentrated in one theme can be more volatile than diversified funds.

Why do high bond yields matter for a company's debt?

A high yield means the market is demanding more compensation for the risk of holding the bond, and it usually means the bond price has fallen. It can make it harder or costlier for a company to raise new money. It does not change the coupon rate the company already agreed to pay on bonds it issued earlier, which Corey says is the favorable side of the picture for CoreWeave.

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