CoreWeave Expands Credit Facility to $1.5 Billion to Support Continued Growth

Rhea-AI Summary

CoreWeave (NASDAQ: CRWV), the AI Hyperscaler™, has significantly expanded its credit facility from $650 million to $1.5 billion through an agreement with major financial institutions including JPMorgan Chase, Goldman Sachs, Morgan Stanley, and MUFG. This represents an $850 million increase from their previous facility secured in October 2024.

The company plans to use the proceeds to enhance financial flexibility and support the global expansion of its AI cloud infrastructure platform. CoreWeave's technological leadership is evidenced by its recent collaboration with NVIDIA, being among the first to offer GB200 Grace Blackwell Superchips at scale, and achieving the highest Platinum ranking from SemiAnalysis.

Positive

• Secured $850 million increase in revolving credit facility, bringing total to $1.5 billion
• Strong backing from major financial institutions demonstrates market confidence
• Early access to NVIDIA's GB200 Grace Blackwell Superchips positions company competitively
• Achieved highest Platinum ranking from SemiAnalysis, validating market leadership

Negative

• Increased debt exposure through expanded credit facility
• Potential interest rate burden from larger credit facility

News Market Reaction – CRWV

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On the day this news was published, CRWV declined 1.28%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

The expansion includes an $850 million increase to the revolving credit facility

LIVINGSTON, N.J., May 6, 2025 /PRNewswire/ -- CoreWeave, Inc. (Nasdaq: CRWV), the AI Hyperscaler™, today announced that it entered into an agreement with JPMorgan Chase Bank, Goldman Sachs, Morgan Stanley and MUFG, with participation from Credit Agricole, Deutsche Bank, Societe Generale, Sumitomo Mitsui Banking Corporation and Wells Fargo, to, among other things, increase the company's revolving credit facility from $650 million to $1.5 billion and extend the maturity date. The proceeds from this agreement will enhance the company's financial flexibility and enable it to continue growing its leading AI cloud infrastructure platform globally.

CoreWeave previously closed a $650 million revolving credit facility in October 2024.

CoreWeave is the leading AI cloud infrastructure provider and is consistently one of the first-to-market with the most advanced hardware and software solutions. Last month, NVIDIA and CoreWeave announced that CoreWeave is among the first AI cloud providers offering GB200 Grace Blackwell Superchips at scale, after CoreWeave reported a record-breaking MLPerf inference benchmark with the GB200 system. The company is also the only hyperscaler to achieve the highest Platinum ranking from SemiAnalysis, an independent AI industry research and analysis group.

About CoreWeave
CoreWeave, the AI Hyperscaler™, delivers a cloud platform of cutting-edge software powering the next wave of AI. The company's technology provides enterprises and leading AI labs with cloud solutions for accelerated computing. Since 2017, CoreWeave has operated a growing footprint of data centers across the US and Europe. CoreWeave was ranked as one of the TIME100 most influential companies and featured on Forbes Cloud 100 ranking in 2024. Learn more at www.coreweave.com.

Forward-Looking Statements
This press release contains forward-looking statements based on management's expectations, assumptions, and projections using information available at the time the statements were made. These forward-looking statements are subject to a number of risks, uncertainties, and assumptions. It is not possible for CoreWeave's management to predict all risks, nor can CoreWeave assess the impact of all factors on its business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements CoreWeave may make. In light of these risks, uncertainties, and assumptions, CoreWeave's actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. Further information on risks that could cause actual results to differ materially from forecasted results are, or will be included, in the filings CoreWeave makes with the Securities and Exchange Commission from time to time, including the Prospectus dated March 27, 2025, filed on March 31, 2025 pursuant to Rule 424(b) under the Securities Act of 1933, as amended, relating to the Registration Statement on Form S-1, as amended (File No. 333-285512). Except as required by law, CoreWeave assumes no obligation to update these forward-looking statements, or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements.

 

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SOURCE CoreWeave

FAQ

What is the new credit facility amount for CoreWeave (CRWV) and how much did it increase?

CoreWeave's credit facility was expanded to $1.5 billion, representing an $850 million increase from its previous $650 million facility secured in October 2024.

Which banks are involved in CoreWeave's new credit facility?

The credit facility involves JPMorgan Chase Bank, Goldman Sachs, Morgan Stanley, MUFG, Credit Agricole, Deutsche Bank, Societe Generale, Sumitomo Mitsui Banking Corporation, and Wells Fargo.

How will CoreWeave (CRWV) use the proceeds from the expanded credit facility?

CoreWeave will use the proceeds to enhance financial flexibility and support the global expansion of its AI cloud infrastructure platform.

What recent technological achievement has CoreWeave announced with NVIDIA?

CoreWeave is among the first AI cloud providers to offer GB200 Grace Blackwell Superchips at scale, achieving a record-breaking MLPerf inference benchmark with the GB200 system.

What is CoreWeave's current ranking from SemiAnalysis?

CoreWeave is the only hyperscaler to achieve the highest Platinum ranking from SemiAnalysis, an independent AI industry research and analysis group.