CoreWeave Secures $650M in Credit

ROSELAND, N.J. — The cloud computing provider CoreWeave is tapping credit to support its growth and serve the AI market.

CoreWeave closed a $650 million revolving credit facility, according to the company today.

CoreWeave will use the credit to scale its global operations and equip its customers with the infrastructure to power the "next generation of AI innovation."

Several financial institutions are offering the credit: led by JPMorgan Chase, Goldman Sachs and Morgan Stanley and with participation from Barclays, Citi, Deutsche Bank, Jefferies, Mizuho, MUFG and Wells Fargo. 

The credit comes after CoreWeave raised $12.7 billion from equity and debt investors over the last 18 months.

"This credit facility provides additional liquidity to accelerate our growth strategy and capitalize on new opportunities in the rapidly evolving AI space," said Mike Intrator, CEO and co-founder, CoreWeave.

Intrator said the company's investors and financial partners recognize that it can "deliver a superior compute experience grounded in our software advantage."

He said AI enterprises host their training and inference on CoreWeave infrastructure, and "they keep coming back for more capacity."