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Michael Intrator, Founder & CEO of CoreWeave, Inc., Nvidia-backed cloud services provider, gestures during the company's IPO at the Nasdaq Market, in New York City, U.S., March 28, 2025.
Brendan Mcdermid | Reuters
CoreWeave shares popped more than 18% after announcing a $2 billion debt offering.
The renter of artificial intelligence data centers said it had priced the notes at 9.25%, with a June 2030 maturity date. The deal represents a $500 million increase from its initial announcement.
CoreWeave said it plans to use the capital to pay off outstanding debt. The company confirmed to CNBC that the debt offering was five times oversubscribed.
In its first-quarter earnings report last week, CoreWeave said that it raised a total of $17.2 billion in equity and debt "to support its strategy to drive the next generation of cloud computing for the future of AI." The company topped revenues expectations but posted wider-than-expected net loss and said it plans to spend big on capital expenditures to support demand.
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