CoreWeave secures $8.5 billion loan to expand AI infrastructure

Cloud infrastructure firm CoreWeave has secured $8.5 billion in financing through a delayed-draw term loan facility to expand its artificial intelligence cloud platform, as ‌demand ⁠for computing ⁠power continues to surge.

This brings the total equity and debt financing commitments secured by CoreWeave in the past 12 months to about $28 billion. Here are details from ⁠the company's ‌statement on Tuesday:

CoreWeave will initially be able ⁠to borrow about $7.5billion, with an option to increase that to $8.5 billion as data-centre assets reach stable operating levels. The loan will mature in March 2032. The facility was co-structured and ‌book-run by MorganStanley and MUFG, with Goldman Sachs and JPMorgan serving asadditional ⁠coordinating lead arrangers for the transaction. It was anchored by Blackstone Credit & Insurance andincluded participation from a group of global financialinstitutions, asset managers and insurance investors.