CoreWeave priced an upsized private offering of $3.7 billion in 2.875% convertible senior notes due 2033. The company increased the deal from an initial $3.0 billion following strong investor demand. This offering is scheduled to settle on September 22, 2026.
The company expects net proceeds of approximately $3.64 billion. Total proceeds may reach $4.14 billion if initial purchasers exercise their option for an additional $500 million in notes.
CoreWeave will use roughly $498.8 million for capped call transactions to reduce potential shareholder dilution. The remaining funds will support general corporate purposes and capital-intensive expansion in the AI cloud market.