Compute · the Ledger · Loan against chips
CoreWeave closes $2.3B delayed draw term loan (DDTL 1.0) led by Magnetar and Blackstone
Signed · announced 3 Aug 2023 · the week to 4 Aug 2023
- Size
- $2.3B
The parties
- CoreWeavecompany pageBorrower
- Magnetar CapitalLender
- BlackstoneLender
The source
CoreWeave press release, 2023-08-03Company press release
Borrower CoreWeave Compute Acquisition Co. II, entered July 2023. CoreWeave's S-1 (2025-03-03) reports the actual average interest rate charged on DDTL 1.0 borrowings as 14.12% (Dec 31 2023) and 14.11% (Dec 31 2024). Floating rate; no fixed coupon. Per the S-1: secured by substantially all of the borrower's assets and a pledge of 100% of its equity; proceeds financed GPU servers and related infrastructure for customer contracts; Term SOFR + 9.6196%; matures March 28, 2028. Coatue and DigitalBridge Credit also participated (release).
The same parties, other deals
- Blackstone leads a $10B senior secured financing for Firmus, backed by take-or-pay contracts with investment-grade counterparties$10B · 30 Jul 2026
- Jane Street commits ~$6B to CoreWeave's AI cloud and buys $1B of CoreWeave stock at $109.00$6B · 15 Apr 2026
- Meta signs a new CoreWeave order form; Meta's initial commitment is ~$21B through December 20, 2032$21B · 9 Apr 2026
- CoreWeave closes $8.5B DDTL 4.0, rated A3/A (low), to finance GPU servers for a customer contract$8.5B · 31 Mar 2026
- Nvidia buys $2B of CoreWeave Class A stock at $87.20 per share; companies sign a 5 GW buildout framework$2B · 26 Jan 2026
- Meta commits up to ~$14.2B through December 14, 2031 for CoreWeave cloud capacity$14.2B · 30 Sept 2025