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CoreWeave, Inc., The Essential Cloud for AI, today announced it has closed its $3.1 billion delayed draw term loan facility (“DDTL 5.0 Facility”), supporting continued expansion of its AI cloud platform and committed customer deployments. The DDTL 5.0 Facility marks the first publicly syndicated HPC infrastructure-backed financing vehicle, significantly expanding the addressable investor base for AI infrastructure financing and enabling secondary market trading.
CoreWeave closes $3.1B delayed draw term loan facility, first publicly syndicated HPC-backed financing.
Rated Ba2 by Moody’s and BB+ by Fitch, validating AI infrastructure financing as emerging asset class.
Facility was meaningfully oversubscribed with pricing tightening by 50 basis points to SOFR + 4.50%.
Maturity of approximately 5.5 years through CoreWeave Financing DDTL V, LLC.
Morgan Stanley and Mitsubishi UFJ Financial Group served as joint lead arrangers and bookrunners.
CoreWeave has secured more than $20 billion of debt and equity capital year-to-date.
“This transaction further validates HPC infrastructure-backed financing as a scalable new asset class designed to support long-term AI demand. We believe this approach is becoming one of the defining investment categories of the next decade,” said Brannin McBee, co-founder and chief development officer at CoreWeave. “The exceptional investor demand for this facility reflects growing institutional confidence in our execution, customer commitments, and business model, along with sustained conviction that AI adoption is accelerating.”
Proceeds from the DDTL 5.0 Facility will support the purchase and deployment of infrastructure dedicated to customer contracts with two large, non-investment grade customers, further expanding CoreWeave's AI cloud footprint. The transaction was meaningfully oversubscribed, attracting exceptional investor demand during syndication. Strong market interest enabled pricing to tighten by 50 basis points from initial discussions, resulting in final pricing at SOFR + 4.50%.
The DDTL 5.0 Facility builds on CoreWeave's continued capital markets momentum and follows the company's previously announced 8.5 billion investment−graderated DDTL4.0 facility completed earlier this year. With the closing of this latest transaction, 20 billion of debt and equity capital year-to-date to support continued expansion of its AI cloud platform.
CoreWeave is The Essential Cloud for AI. Built for pioneers by pioneers, CoreWeave delivers a platform of technology, tools, and teams that enables innovators to move at the pace of innovation, building and scaling AI with confidence. Trusted by leading AI labs, startups, and global enterprises, CoreWeave serves as a force multiplier by combining superior infrastructure performance with deep technical expertise to accelerate breakthroughs. Established in 2017, CoreWeave completed its public listing on Nasdaq (CRWV) in March 2025.
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