QCP: AI Infrastructure Credit Stress Spills Into Equities and Crypto Markets QCP Capital said in its October 23 report that rising financing risks in AI infrastructure are spilling into equities and crypto markets, with Bitcoin tracking U.S. stocks lower. Yields on some CoreWeave bonds have climbed to around 15%, while its shares fell roughly 10% on October 22, reflecting concerns over heavy capital spending, debt servicing and future financing costs. Meanwhile, French 10-year government bond yields exceeded 5.1%, with spreads over German Bunds widening to about 170 basis points. Middle East tensions pushed oil prices to five-month highs. QCP noted that Bitcoin continues to behave like a traditional risk asset, while expectations for an October Fed rate hike have fallen near zero and confidence in a December rate cut has weakened.