CoreWeave launched a $2.6 billion delayed-draw term loan on July 17. The cloud provider will use the funds to expand its graphics processing unit (GPU) capacity.
Fitch assigned the debt facility a BB+ rating. JPMorgan and MUFG are arranging the financing to acquire equipment for newly signed customer contracts.
Proceeds will support compute capacity for clients including Anthropic, Jane Street, and Midjourney. The move signals strong AI demand despite a broad market sell-off in technology and semiconductor stocks.