CRWV plunged 6% in after-hours trading, its true colors revealed as soon as it rallied – it's back to issuing bonds and borrowing money. CoreWeave plans to raise at least $4 billion through investment-grade loans, led by Morgan Stanley and Mitsubishi UFJ. These loans are expected to be released to the market in batches as early as next week, with an expected yield of 7%-7.5%, significantly lower than its existing junk bonds' 9.625% coupon rate. Taking advantage of its improved credit image through earnings reports and stock price, it's rushing to borrow cheaper money.