CoreWeave closed an $8.5 billion delayed-draw term loan to expand its AI cloud computing capacity.
The financing represents the first investment-grade rating for debt backed by high-performance computing infrastructure.
Long-term contracts with Meta Platforms valued at over $19 billion support the debt facility.
CoreWeave will provide the infrastructure necessary for Meta's artificial intelligence initiatives.
The structure leveraged Meta's credit strength to achieve an A-level rating.
This rating significantly lowers CoreWeave's cost of capital.
The company will use the funds to meet accelerating customer demand.