CoreWeave announced it has closed a $2.6 billion delayed draw term loan facility (DDTL 3.0 Facility), continuing the company’s investment in world-class infrastructure tailored for AI.
The funding will support the purchase and maintenance of advanced equipment, hardware, and cloud infrastructure systems to deliver services under a long-term agreement with OpenAI. The facility was led by Morgan Stanley and MUFG as joint bookrunners and lead arrangers. Goldman Sachs supported the deal as a lead arranger. JPMorgan Chase, Wells Fargo, BBVA, Crédit Agricole, SMBC, PNC, and Société Générale were also in the syndicate.
The DDTL 3.0 Facility builds on CoreWeave’s momentum over the past 18 months, including raising over $25 billion through equity and debt, with a recent $1.75 billion Senior Notes offering. The new DDTL 3.0 Facility, financed at SOFR +4%, demonstrates CoreWeave’s success in reducing its capital costs and enhancing its credit profile. It matures on August 21, 2030, and is secured by most assets of CoreWeave Compute Acquisition Co. VII, LLC.
CoreWeave’s AI cloud platform offers scale, performance, and reliability, providing GPU-accelerated infrastructure, automation, and high availability for enterprise AI applications.
KEY QUOTES:
“We’re proud to partner with leading financial institutions on this landmark transaction that delivers on our commitment to lower our cost of capital. This is another step forward in our ability to provide our highly specialized AI cloud platform at massive scale to meet the demands of our innovative clients.”
Brannin McBee, Chief Development Officer and co-founder of CoreWeave
“CoreWeave is an important partner in OpenAI’s overarching AI infrastructure platform. Scaling advanced AI requires world-class compute infrastructure, and partnering with CoreWeave and leading financial institutions enables us to train more capable models and deliver better experiences to people around the world.”
Sarah Friar, CFO of OpenAI
