🚨JUST IN: Jensen Huang says CoreWeave won’t need a backstop, yet markets price a more than 60% chance it DEFAULTS. The Nvidia CEO says CoreWeave’s “cost of capital is actually decreasing.” But its five-year credit default swaps hit a record 1,194.5 basis points on Thursday, per ICE Data Services. That prices in a more than 60% chance of default within five years. CoreWeave had about $35 BILLION in debt at the end of June, up from $21 BILLION at the start of the year. Nvidia owns about 10% of the company.