CoreWeave Secures $8.5 B AI Infrastructure Loan, Achieves First Investment-Grade Rating
CoreWeave secured an $8.5 billion delayed-draw term loan facility—initial $7.5 billion, upgradable via asset stabilization—to fund expansion of its AI cloud infrastructure, bringing its twelve-month financing commitments to about $28 billion. The facility, maturing in March 2032, earned the industry’s first investment-grade GPU-backed ratings of A3 (Moody’s) and A(low) (DBRS).
1. Financing Details
CoreWeave’s delayed-draw term loan facility, known as DDTL 4.0, allows an initial borrow of $7.5 billion, with a $1 billion option tied to data-center asset stabilization. Proceeds will accelerate build-out of its AI cloud platform, and together with equity commitments, bring total financing to about $28 billion over the past 12 months. The loan matures in March 2032.
2. Rating and Arrangers
The facility received Moody’s A3 and DBRS A(low)—the first investment-grade ratings for GPU-backed infrastructure financing. Morgan Stanley and MUFG co-structured and book-ran the transaction, with Goldman Sachs and JPMorgan as additional lead arrangers, and Blackstone Credit & Insurance anchoring the deal alongside global institutions, asset managers and insurance investors.