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CoreWeave, Inc, the AI Hyperscaler™, has closed a $2.6 billion delayed draw term loan facility (DDTL 3.0 Facility) on July 31, 2025, to bolster its AI cloud infrastructure. This landmark financing, led by Morgan Stanley and MUFG, supports CoreWeave’s long-term agreement with OpenAI and expands its high-performance infrastructure footprint, reinforcing its leadership in AI cloud services.
CoreWeave secures $2.6B DDTL 3.0 Facility, maturing August 21, 2030, at SOFR +4%.
Funds to support OpenAI contract and advanced AI infrastructure expansion.
Follows $1.75B Senior Notes offering closed on July 28, 2025.
Over $25B raised in 18 months through equity and debt financing.
Stock price (CRWV) at $108.231 as of August 4, 2025, per the finance card above.
Revenue backlog of $25.9B, including $11.2B OpenAI contract, as of Q1 2025.
The $2.6 billion DDTL 3.0 Facility, secured by CoreWeave Compute Acquisition Co. VII, LLC, will fund the purchase and maintenance of advanced equipment, hardware, and cloud infrastructure to deliver services under a long-term agreement with OpenAI. This follows a $1.75 billion Senior Notes offering on July 28, 2025, and builds on CoreWeave’s $25 billion in total capital raised over the past 18 months. The facility, financed at SOFR +4%, reflects CoreWeave’s efforts to lower its cost of capital, with Morgan Stanley, MUFG, Goldman Sachs, JPMorgan Chase, Wells Fargo, BBVA, Crédit Agricole, SMBC, PNC, and Société Générale as key financial partners.
“We’re proud to partner with leading financial institutions on this landmark transaction that delivers on our commitment to lower our cost of capital,” said Brannin McBee, Chief Development Officer and co-founder of CoreWeave. “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.”
CoreWeave’s deepened partnership with OpenAI, including a $4 billion contract signed in May 2025 and a prior $11.9 billion commitment, positions it as a critical infrastructure provider for AI innovation. “CoreWeave is an important partner in OpenAI’s overarching AI infrastructure platform,” said Sarah Friar, CFO of OpenAI. “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.”
The company’s Q1 2025 revenue surged 420% year-over-year to $981.6 million, with a $25.9 billion revenue backlog, including contracts with IBM, Meta, and 1,400 AI labs. Its $9 billion acquisition of Core Scientific in Q4 2024 added 1.3 gigawatts of power capacity, reducing lease expenses by over $10 billion over 12 years.
CoreWeave’s stock (CRWV) closed at $108.231 on August 4, 2025, with a market cap of $50.14 billion, per the finance card above. Despite a net loss of $314.6 million in Q1 2025, the company’s strategic investments, including a $6 billion Pennsylvania AI data center announced in March 2025, underscore its focus on vertical integration. The facility, with an initial 100 MW capacity scalable to 300 MW, aligns with efforts to localize AI infrastructure.
However, CoreWeave faces risks with a debt-to-equity ratio of 2.60 and reliance on key clients like Microsoft (62% of 2024 revenue). Its Q2 2025 earnings, set for release on August 12, 2025, will provide further insight into its financial trajectory.
CoreWeave’s GPU-accelerated cloud platform, designed for AI workloads, offers unmatched scale and reliability. Operating 32 data centers with over 250,000 GPUs and 360 MW of active power as of December 2024, the company outpaces competitors like AWS and Azure in AI-specific infrastructure. Its inclusion in the TIME100 Most Influential Companies and Forbes Cloud 100 in 2024 highlights its industry stature.
This financing strengthens CoreWeave’s position to meet surging AI compute demand, leveraging strategic partnerships and infrastructure investments to drive the next wave of AI innovation.
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.
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