CoreWeave, Inc., widely recognized as The AI Hyperscaler, has officially secured a $2.6 billion delayed draw term loan facility (DDTL 3.0 Facility). This strategic move further advances CoreWeave’s mission to invest heavily in next-generation artificial intelligence infrastructure. The funding will directly support the acquisition, deployment, and maintenance of state-of-the-art hardware, equipment, and cloud systems required to fulfill a long-term service agreement with OpenAI.

Brannin McBee, CoreWeave’s co-founder and Chief Development Officer, called the deal a major milestone, saying, “We’re proud to be working with top-tier financial institutions on such a pivotal agreement. It reinforces our goal of reducing the cost of capital while scaling our highly specialized AI cloud platform to meet client demands globally,” he stated.

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Moreover, Sarah Friar, CFO of OpenAI, highlighted CoreWeave’s pivotal role in OpenAI’s infrastructure strategy. “Delivering advanced AI capabilities at scale requires exceptional compute infrastructure. Partnering with CoreWeave enables us to train more powerful models and elevate user experiences worldwide,” she added.

This new facility, led by Morgan Stanley and MUFG as joint bookrunners and arrangers, was also backed by Goldman Sachs, JPMorgan Chase, Wells Fargo, BBVA, Crédit Agricole, SMBC, PNC, and Société Générale. Their collective support underscores strong financial confidence in CoreWeave’s growth trajectory.

The DDTL 3.0 Facility, maturing on August 21, 2030, and financed at SOFR +4%, reflects CoreWeave’s continued efforts to improve its credit profile. It also follows the company’s July 28 announcement of a $1.75 billion Senior Notes offering bringing CoreWeave’s total capital raised to over $25 billion within the last 18 months.

CoreWeave’s cloud platform is purpose-built for AI, giving enterprise clients the performance, scalability, and reliability they need to run demanding workloads without compromise. By leveraging GPU-accelerated systems and intelligent automation, the company continues to deliver on its promise of modern, efficient artificial intelligence infrastructure.

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FAQs

1. What makes CoreWeave’s AI cloud platform different from traditional cloud services?

CoreWeave’s platform is uniquely designed for modern AI workloads. It utilizes GPU acceleration, software automation, and high-availability systems to support large-scale AI deployments efficiently.

2. Why is artificial intelligence infrastructure important for companies like OpenAI?

Advanced AI infrastructure ensures that AI models can be trained faster, more accurately, and at scale. It allows companies like OpenAI to develop more powerful tools and deliver seamless user experiences globally.

3. How does the DDTL 3.0 Facility impact CoreWeave’s growth in AI cloud computing?

The $2.6 billion loan enables CoreWeave to expand its AI infrastructure significantly, lower its cost of capital, and fulfill growing demand from clients like OpenAI positioning it as a leader in AI cloud computing.

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