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Bond Market News
CoreWeave Secures $21bn Agreement with Meta
April 13, 2026
CoreWeave secured a $21bn agreement with Meta Platforms to provide AI cloud computing capacity through 2032. This deal significantly deepens the partnership between the two companies, bringing the total value of CoreWeave’s contracts with Meta to $35bn. The infrastructure for this expansion will be powered by Nvidia Corp.’s advanced Rubin chip systems across multiple data centers. To finance the expansion and manage existing debt, CoreWeave raised $1.75bn via a 5.5NC2.5 bond at a coupon of 9.75% last week. It reportedly also plans to issue $3bn in convertible notes (with a coupon of 1.5-2%). This follows a previous $8.5bn financing round from major banks earlier this month.
CoreWeave’s bonds were trading stable with its 9% 2031s at 99.6, yielding 9.1%.
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