CoreWeave has closed a $2.6 billion delayed draw term loan facility to finance additional AI infrastructure and committed customer deployments. The facility, known as DDTL 5.5, expands CoreWeave’s high-performance computing infrastructure-backed financing platform by allowing a broader range of customer contracts to support syndicated infrastructure financing.
JPMorgan and Mitsubishi UFJ Financial Group served as joint lead arrangers and bookrunners for the financing.
The approximately five-year loan has a longer maturity than the customer contracts supporting it, which average approximately three years. Previous delayed draw term loan facilities generally relied on contracts extending through the maturity of the underlying debt.
CoreWeave said the structure allows it to finance shorter-term customer commitments and expand its addressable base of enterprise customers. The company also noted that shorter-duration customer contracts can command higher prices, potentially resulting in higher margins.
Proceeds will fund the purchase and deployment of HPC-backed infrastructure dedicated to customer contracts. CoreWeave can either renew existing contracts or re-lease the underlying capacity to other customers when initial contracts expire, subject to the facility’s credit agreement.
The facility was meaningfully oversubscribed and priced at SOFR plus 5.50%. Moody’s assigned the facility a Ba2 rating, while Fitch rated it BB+.
The transaction follows CoreWeave’s previously announced $3.1 billion DDTL 5.0 facility completed earlier in 2026.
With the new financing, CoreWeave said it has secured more than $30 billion in debt and equity capital year-to-date as it expands its global AI infrastructure footprint and customer base.
KEY QUOTE:
“This transaction demonstrates the continued evolution and growing flexibility of AI infrastructure financing and represents a major unlock for CoreWeave. Lenders are now comfortable financing shorter-dated contracts, which allows us to target a wider variety of customers, including global enterprises that typically favor shorter-term agreements.”
Brannin McBee, Co-Founder and Chief Development Officer of CoreWeave
