CoreWeave secures $8.5 billion loan to expand AI infrastructure

Reuters03-31 21:00
<a href="https://laohu8.com/S/CRWV">CoreWeave</a> secures $8.5 billion loan to expand AI infrastructure

March 31 (Reuters) - Cloud infrastructure firm CoreWeave CRWV.O 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 $7.5 billion, with an option to increase that to $8.5 billion as data-center assets reach stable operating levels.

  • The loan will mature in March 2032.

  • The facility was co-structured and book-run by Morgan Stanley and MUFG, with Goldman Sachs and JPMorgan serving as additional coordinating lead arrangers for the transaction.

  • It was anchored by Blackstone Credit & Insurance and included participation from a group of global financial institutions, asset managers and insurance investors.

(Reporting by Harshita Mary Varghese in Bengaluru; Editing by Jonathan Ananda)

((HarshitaMary.Varghese@thomsonreuters.com;))

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