Felix Nikolas Prehn: How AI Infrastructure Fueled By Borrowing Can Break Markets

CoreWeave's distressed debt pricing and heavy insider selling signal AI infrastructure financing stress that could spread beyond one company.

• CoreWeave's balance-sheet strain: ~$50B debt, only ~3 months cash per the podcast's analysis, 2032 bonds yielding ~15% (priced at 76 cents), and credit-default-swap pricing implying ~60% default odds.
• Insiders cashed out big: Founders CEO Michael Intrator, Brannin McBee, and Brian Venturo have sold a combined ~$3.3B in shares since listing in March 2025, including $77M since September.

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