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CoreWeave Raises $8.5bn via Bank Loans Backed by Meta Deal
April 1, 2026
CoreWeave’s secured $8.5bn in an investment-grade loan from several banks, marking the largest chip-backed financing of its kind to date. The 6Y loan is secured by high-end graphics processing units (GPUs) and a customer contract with Meta Platforms valued at ~$19bn. The company can initially borrow up to $7.5bn, which will then increase to $8.5bn once its chips are ready. Analysts note that the financing structure allows CoreWeave to significantly lower its cost of capital. The loan features a fixed-rate tranche at approximately 5.9% and a floating-rate tranche. While the company carries a high-yield issuer rating (Ba3/B/BB-), this specific facility earned an A3 rating from Moody’s, attracting a broader base of investors, including insurance firms. This marks the fourth GPU loan that CoreWeave has raised. The capital will fund the expansion of cloud computing capacity essential for the AI boom. CoreWeave had already accumulated $21.6bn in debt by end-2025.
CoreWeave’s bonds were trading higher with its 9% 2031s up 0.9 points to 95.4, yielding 10.2%.
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