The Zhitong Finance App learned that on Tuesday, cloud computing service provider concept stocks generally fell. IREN Ltd (IREN.US) fell nearly 6%, CoreWeave (CRWV.US) fell nearly 4%, Nebius (NBIS.US) fell more than 2%, and Hut 8 (HUT.US) fell more than 1%. According to the news, on October 20, the stock price of Korean AI data center company Elice fell more than 30% on the first day of listing, increasing investors' concerns about AI infrastructure valuation and return on investment, putting pressure on data center and technology stocks.

CoreWeave's stock price plummeted more than 15% in a single day last Wednesday. This sharp fluctuation was not due to weak demand, but a direct reflection of upward pressure on interest rates. Radke, co-head of Citigroup's US software business research department, said that although the Nvidia H100 chip rental price is close to an all-time high, the yield on bonds issued by CoreWeave is close to 15%. Since March, the yield on 10-year US Treasury bonds has risen by about 30%, posing a serious challenge to borrowers that lack investment-grade credit ratings.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.