CoreWeave Doubles Down—Now Slings $2B in Senior Notes Like Wall Street’s Your Grandma’s Basement

Cloud infrastructure upstart CoreWeave just cranked its senior notes offering to a cool $2 billion—because when the debt markets are hot, why not go big? Wall Street’s latest debt-fueled rocket ship shows no signs of slowing.

Who needs profitability when you’ve got institutional FOMO? The hyperscale GPU provider’s move signals either extreme confidence or a masterclass in ’fake it till you make it’ finance. Either way, someone’s getting a yacht.

Funny how these notes always come due right when the next cycle’s bubble pops. But hey—that’s future CoreWeave’s problem.

CoreWeave, Inc. (Nasdaq: CRWV), a prominent player in the AI cloud infrastructure sector, has revealed an increase in its senior notes offering to $2 billion, according to a recent announcement. This MOVE marks a $500 million increase from the initial proposal, with the notes set to mature on June 1, 2030.

Details of the Offering

The senior notes, carrying a 9.250% interest rate, are slated for issuance at par. CoreWeave anticipates the closing of this offering by May 27, 2025, contingent upon standard closing conditions. The notes will receive a senior unsecured guarantee by CoreWeave Cash Management LLC, a wholly-owned subsidiary.

Use of Proceeds

The company intends to utilize the raised capital for general corporate purposes, including the repayment of existing debts and covering the costs associated with the offering. This strategic financial maneuver aims to bolster CoreWeave’s operational capabilities and market positioning.

Investor Considerations

The notes and related guarantees are being marketed exclusively to qualified institutional buyers under Rule 144A of the Securities Act of 1933. They are not registered under the Securities Act, thereby restricting sales to specific investor groups outside the U.S., in compliance with Regulation S.

About CoreWeave

CoreWeave is recognized as a leading AI Hyperscaler, providing a cutting-edge cloud platform that facilitates accelerated computing for both enterprises and leading AI laboratories. Since its inception in 2017, the company has expanded its data center footprint across the United States and Europe.

Forward-Looking Statements

The announcement includes forward-looking statements that involve various risks and uncertainties, with potential impacts on the offering’s completion and the utilization of proceeds. Factors influencing these projections include market conditions and broader economic factors, detailed in CoreWeave’s SEC filings.

For more information, you can read the original announcement on PRNewswire.

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