CoreWeave Closes $2.6 Billion Term Loan Facility for AI Infrastructure

Summary

CoreWeave, Inc. has closed a $2.6 billion delayed draw term loan facility (DDTL 3.0 Facility) to finance the purchase and maintenance of advanced equipment and cloud infrastructure systems for delivering services under a long-term agreement with OpenAI. This financing facility is secured by the assets of CoreWeave Compute Acquisition Co. VII, LLC and will help CoreWeave reduce its cost of capital. The facility was led by Morgan Stanley and MUFG as joint bookrunners and joint lead arrangers, with Goldman Sachs supporting the deal as a joint lead arranger. This facility adds to CoreWeave's existing capital commitments totaling over $25 billion.