Meta's $21 B AI Cloud Deal Drives CoreWeave's $1 B 9.75% Bond Reopening
CoreWeave Inc. sold $1 billion of additional 9.75% senior notes due 2031 at 102 cents on the dollar, its second high-yield offering in a week. The cloud-infrastructure firm raised funds to support expansion after signing a $21 billion AI-cloud supply deal with Meta Platforms.
1. CoreWeave Raises $1 B in 9.75% Senior Notes
CoreWeave Inc. tapped the U.S. high-yield market for a second time this week by issuing $1 billion of 9.75% senior notes maturing in 2031. The offering priced at 102 cents on the dollar, reflecting strong investor appetite for debt tied to artificial intelligence infrastructure.
2. Meta AI-Cloud Supply Deal Drives Funding Need
The bond sale follows CoreWeave’s $21 billion contract to supply high-end AI cloud capacity to Meta Platforms, supplementing an earlier $14.2 billion agreement. Proceeds will fund an aggressive expansion of computing capacity to meet heightened demand from Meta’s AI initiatives.