SuRo Capital: CoreWeave Dips As AI Enthusiasm Moderates

2025-12-03 22:30:25 ET

SuRo Capital's ( SSSS ) position in CoreWeave ( CRWV ) is set to be closed out at a markedly lower realized gain following the collapse of the cloud computing company. This might see near-term returns for the equity BDC capped after a remarkable year-to-date AI-driven run. CRWV is down roughly 60% from its 52-week high, with the BDC holding a $37 million position at fair value in CRWV as of the end of its fiscal 2025 third quarter. This formed 14.7% of its $252.2 million investment portfolio, with SuRo's net asset value ("NAV") at $9.23 per share at the end of the third quarter. NAV per share expanded by 5 cents sequentially from $9.18 per share in the second quarter. This growth from when I last covered the ticker came ahead of what's expected to be another $0.25 per share dividend distribution to common shareholders. This will mean SuRo is set to pay out $0.50 per share in aggregate to its common shareholders in 2025 as it continues to ride the AI wave....

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