It gets worse. CoreWeave has more than $50 billion in debt. rising costs will make financing economically unfeasible. And a demand shock will push the company into bankruptcy. This will affect NVIDIA and others involved in this entire AI supply chain.
CoreWeave defaulting vs say Alphabet or Meta or MS or Amazon is very different thing. According to Pachai right now they are severely compute constrained they have 2x the demand they can serve. So while CoreWeave bondholders might take a haircut one of the hyperscalars will likely gladly buy their assets.