CoreWeave Seeks at Least $4B via Investment-Grade Loan to Buy Nvidia Chips

November 12: According to Bloomberg, AI compute cloud service provider CoreWeave is seeking to raise at least $4 billion through an investment-grade, asset-backed loan led by Morgan Stanley. The funds will be used to purchase Nvidia chips and other computing equipment for a contract with an investment-grade customer, with an expected annual interest rate of 7% to 7.5%. CEO Michael Intrator previously said the company would not raise funds through the unsecured bond market at current rates.