CoreWeave, which operates a growing footprint of data centers dedicated to AI, raised a massive a $7.5 billion debt financing facility.
CoreWeave recently opened a new European headquarters in London and has announced a$1.25 billion investment commitment in Europe.
“CoreWeave is building the infrastructure to power the AI innovations that are already changing how businesses operate in the global economy,” said Michael Intrator, CoreWeave CEO and co-founder. “The caliber of investors in this large debt financing round is a powerful testament to both the insatiable market appetite for AI infrastructure and their belief in CoreWeave’s ability to deliver cutting edge innovation for the largest AI labs and innovators at scale. And we are really just getting started – our ambitions are to help reshape the cloud landscape, accelerate the AI race, and power the next generation of AI innovation that is changing the course of history.”
The financing is led by funds managed by Blackstone, with significant contributions from Magnetar (Co-Lead Investor) and Coatue. Additional participation came from Carlyle, CDPQ, DigitalBridge Credit, funds and accounts managed by BlackRock, Eldridge Industries, and Great Elm Capital Corp. The funding will be used to expand CoreWeave’s high-performance computing capabilities to meet the demands of existing contracts with leading enterprise customers and AI innovators.
Highlights:
- Debt Financing Facility: $7.5 billion led by Blackstone. Strategic Investors: Magnetar (Co-Lead Investor), Coatue, Carlyle, CDPQ, DigitalBridge Credit, BlackRock funds and accounts, Eldridge Industries, Great Elm Capital Corp. Total Capital Raised: Over $12 billion from equity and debt investors in the past 12 months.
- Notable Fundraising Events: $1.1 billion Series C in May 2024, led by Coatue. $2.3 billion debt financing facility in August 2023, led by Blackstone and Magnetar.
- Data Center Growth: Expanded from 3 to 14 data centers in 2023. Plans to double data center footprint to 28 globally by the end of 2024.
- CoreWeave’s rapid expansion and substantial funding underscore its position as a key player in the AI infrastructure space, poised to meet the growing demands of the AI industry.