CoreWeave Lands Multibillion Anthropic AI Deal, Issues $1.75B Bonds and $3.5B Notes
CoreWeave secured a multiyear, multibillion-dollar computing capacity deal with Anthropic, deploying Nvidia chips across US data centers and triggering a 13% intraday share jump. It also issued $1.75 billion of 9.75% bonds at 101.88 and upsized a $3.5 billion convertible note to finance expansion.
1. Multibillion-Dollar AI Capacity Deal with Anthropic
CoreWeave signed a multiyear, multibillion-dollar agreement to supply Anthropic with AI computing capacity, including access to Nvidia GPU architectures across its 43 US data centers. The deal underpins deployment of Claude models and underscores rising demand for large-scale infrastructure in AI development.
2. $1.75 Billion Bond Issue Sees Strong Demand
The company priced $1.75 billion of 9.75% senior unsecured notes at par, which climbed to 101.88 cents on the dollar in early trading. Originally planned at $1.25 billion, the upsizing reflects robust investor appetite following CoreWeave’s AI contracts with Anthropic and Meta.
3. $3.5 Billion Convertible Note Offering Oversubscribed
CoreWeave increased its convertible note sale to $3.5 billion from an initial $3.0 billion, setting a 1.75% coupon due 2032 and a conversion price of $119.60, a roughly 30% premium to the latest share price. Proceeds will fund data center expansion and capped call transactions to manage potential dilution.