Secured Debt Financing Facility of $2.6 billion closed for CoreWeave
CoreWeave, a leading provider of scalable AI cloud infrastructure, has announced the closure of a significant financing deal – a $2.6 billion Delayed Draw Term Loan (DDTL) 3.0 Facility. The facility, maturing on August 21, 2030, is designed to support CoreWeave's continued investment in AI infrastructure.
The funding will be used to purchase and maintain advanced equipment, hardware, and cloud systems. These resources will be tailored for enterprise AI applications, with a focus on scale, performance, and reliability. This move reflects CoreWeave’s strategy to expand its world-class AI cloud infrastructure.
The DDTL 3.0 Facility is structured as a secured debt financing arrangement, with the interest rate based on SOFR + 4%. This demonstrates an improved cost of capital for CoreWeave. The facility allows the company to draw funds in multiple tranches until July 2026.
The financing syndicate is led by Morgan Stanley and MUFG as joint bookrunners and joint lead arrangers. Goldman Sachs acted as a joint lead arranger alongside Morgan Stanley and MUFG. Other participating financial institutions in the syndicate include JPMorgan Chase, Wells Fargo, BBVA, Crédit Agricole, SMBC, PNC, and Société Générale.
This facility complements prior capital raises by CoreWeave, including a recent $1.75 billion Senior Notes offering closed in July 2025. The new DDTL 3.0 Facility strengthens CoreWeave’s financial position and supports its role as a leading provider of scalable AI cloud infrastructure.
Sarah Friar, CFO of OpenAI, emphasises the importance of scaling advanced AI, stating, "Scaling advanced AI requires world-class compute infrastructure." CoreWeave's AI cloud platform offers GPU-accelerated infrastructure, automation, and high availability for enterprise AI applications.
Partnering with CoreWeave and leading financial institutions enables OpenAI to train more capable models and deliver better experiences to people around the world. The partnership with OpenAI is an important one in OpenAI's overarching AI infrastructure platform.
Brannin McBee, Chief Development Officer and co-founder of CoreWeave, has expressed pride in partnering with leading financial institutions on the landmark transaction. The DDTL 3.0 Facility is secured by substantially all assets of CoreWeave Compute Acquisition Co. VII, LLC.
This significant financing deal marks a step forward in CoreWeave's ability to lower its cost of capital, further solidifying its position as a key player in the AI infrastructure market. The services will be delivered under a long-term agreement with OpenAI.
- The $2.6 billion DDTL 3.0 Facility, a secured debt financing arrangement, will be used by CoreWeave to invest in advanced technology, specifically purchasing and maintaining hardware and cloud systems tuned for enterprise AI applications.
- The funding, complemented by prior capital raises and partnerships with leading financial institutions, allows CoreWeave to lower its cost of capital and further cement its role as a leader in the finance and technology sector, providing scalable AI cloud infrastructure.
