New York, February 21, 2026, 12:34 (EST) — Market closed.
- CoreWeave ended Friday down 8.1% at $89.25 after touching $84.50 intraday
- Report flagged trouble arranging $4 billion of debt for a Pennsylvania data-center project tied to Blue Owl
- Investors now look to Feb. 26 results for clarity on capacity buildout and funding
CoreWeave shares closed at $89.25 on Friday, down 8.1%, as the AI cloud firm took a hit from fresh questions around data-center funding. The stock traded as low as $84.50 and saw about 46 million shares change hands. (Investing)
With U.S. markets shut for the weekend, the slide sets the tone for next week: investors are still trading CoreWeave less on revenue math and more on whether it can keep building fast enough — and finance it — without tripping over the credit market.
That matters now because debt is the grease in this trade. When lenders hesitate, the cost of new capacity can rise quickly and timelines can stretch, even if demand for AI compute stays strong.
The move followed a report that Blue Owl Capital failed to secure $4 billion of debt financing for a data-center project in Lancaster, Pennsylvania, where CoreWeave is the anchor tenant. Some lenders declined because CoreWeave carries a B+ credit rating, the report said, though CEO Michael Intrator said the project was fully financed and on schedule. (MarketWatch)
Blue Owl pushed back, telling Bisnow that the report’s “central premise” was wrong and that its $500 million bridge financing commitment — a short-term loan meant to tide a project over — remains in place through March. CoreWeave went public in March 2025 and has had volatile trading since then, Bisnow reported. (Bisnow)
Wall Street’s mood was already cautious. Morgan Stanley analysts Keith Weiss and Josh Baer wrote that management may need to “thread the needle” and flagged execution risk as the company heads into results, Barron’s reported. The brokers hold an equal-weight rating and a $99 price target, and pointed investors to updates on power capacity as the key swing factor. (Barron’s)
CoreWeave is scheduled to report fourth-quarter and full-year 2025 results on Feb. 26, with a conference call set for 5 p.m. Eastern, the company said earlier this month. (CoreWeave)
Insider activity is also on traders’ screens. A Form 4 filing posted on Friday showed Chief Strategy Officer Brian M. Venturo converted and sold 281,250 Class A shares from an entity on Feb. 18, in transactions flagged as part of a 10b5‑1 plan, a pre-arranged trading program. (SEC)
The risk for bulls is straightforward: if debt markets keep treating below‑investment‑grade borrowers as a no-go, big projects can get pricier or slower, and the market’s patience for heavy spending can thin out fast. Any stumble in capacity delivery could hit sentiment harder than a soft quarter.
For Monday, investors will watch whether CoreWeave stabilizes after the financing headlines and whether Blue Owl or the company adds detail on the Lancaster funding stack. The next hard catalyst is Feb. 26, when CoreWeave’s earnings and outlook will test whether Friday’s drop was mostly nerves — or a warning shot.
