CoreWeave stock falls on Microsoft spending concerns

CoreWeave Inc. shares declined 2.1% in morning trading Thursday to $62.61 following Microsoft Corporation's quarterly earnings report released Wednesday evening.

Microsoft's capital expenditures fell below Wall Street expectations, raising concerns that data center buildout timelines for infrastructure partners may be delayed.

Morgan Stanley maintained its equal-weight rating on CoreWeave but lowered its price target to $70 from $99. The firm cited increasing uncertainty around the company's financing outlook while recognizing its strong operational performance in the neocloud sector.

The stock also faced pressure from reports that co-founders sold approximately $3.3 billion worth of shares since the company's 2025 initial public offering. Of that total, about $2.4 billion in sales occurred in 2026.

CoreWeave carries roughly $52 billion in total loan and lease obligations. Portions of these obligations are currently trading at distressed levels.

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