CoreWeave Debt, Lenders and Contracts
The public financings and compute contracts naming CoreWeave, with lenders, pricing and sources.
CoreWeave has raised $55.4B in 24 public debt and structured financings since 2023, from 25 named lenders. Leads include Morgan Stanley, JPMorgan, MUFG and 3 more.
It is the seller in 10 contracts in the Offtake Tracker, with Meta, OpenAI, Microsoft and 4 more; GPU capacity contracts total $73.6B.
It is the named buyer in 5 public compute contracts: $21.2B in data center leases.
Profile
| Type | Neocloud |
| Headquarters | Livingston, NJ |
| Founded | 2017 |
| Listing | NASDAQ: CRWV (SEC EDGAR) |
| Market cap | $10B to $50B at Oct 9, 2026 (CompaniesMarketCap) |
| Website | coreweave.com |
Debt at Jun 30, 2026
$35.1B of debt and $5.5B of cash at Jun 30, 2026, from the 10-Q filed Aug 12, 2026. Leases are not counted as debt.
| Facility | Principal | Rate | Maturity | Security | Rating |
|---|---|---|---|---|---|
| DDTL 1.0 FacilityDDTL | $1.3B | SOFR + 9.62% | Mar 2028 | Secured, recourse | - |
| DDTL 2.0 FacilityDDTL | $3.2B | SOFR + 6.00% to 13.00% | Aug 2030 | Secured, recourse | - |
| DDTL 2.1 FacilityDDTL | $3.0B | SOFR + 4.25% | Mar 2031 | Secured, recourse | - |
| DDTL 3.0 FacilityDDTL | $2.2B | SOFR + 4.00% | Aug 2030 | Secured, recourse | - |
| DDTL 4.0 FacilityDDTL | $2.8B | SOFR + 2.25%; UST + 2.00% fixed | Mar 2032 | Secured, non-recourse | Moody's A3, DBRS A (low) |
| DDTL 5.0 FacilityDDTL | $1.1B | SOFR + 4.50% | Nov 2031 | Secured, recourse | Moody's Ba2, Fitch BB+ |
| OEM and software license financingVendor financing | $5.1B | Not stated | Aug 2026 to Jul 2030 | Secured | - |
| 2030 Senior NotesSenior notes | $2.0B | 9.25% | Jun 2030 | Unsecured | S&P B |
| 2031 9.00% Senior NotesSenior notes | $1.8B | 9.00% | Feb 2031 | Unsecured | S&P B |
| 2031 9.75% Senior NotesSenior notes | $2.8B | 9.75% | Oct 2031 | Unsecured | - |
| 2032 9.625% Senior NotesSenior notes | $1.3B | 9.625% | Jul 2032 | Unsecured | - |
| 2032 EUR Senior Notes (EUR 2.0B)Senior notes | $2.3B | 8.50% | Jul 2032 | Unsecured | - |
| 2031 Convertible Senior NotesConvertible notes | $2.6B | 1.75% | Dec 2031 | Unsecured | - |
| 2032 Convertible Senior NotesConvertible notes | $4.0B | 1.75% | Oct 2032 | Unsecured | - |
| Magnetar LoanOther | $189M | Not stated | Jan 2029 | Unsecured | - |
| Revolving Credit Facility ($2.5B)Revolver | Undrawn | SOFR + 1.75% | Nov 2029 | Secured, recourse | - |
Delayed draw term loans
| Facility | Signed | Amount | Pricing | Maturity | Customer | Leads | Source |
|---|---|---|---|---|---|---|---|
| CoreWeave DDTL 1.0 | Jul 30, 2023 | $2.3B | SOFR + 9.62% | Mar 2028 | Not named | Magnetar, Blackstone | Blackstone |
| CoreWeave DDTL 2.0 | May 16, 2024 | $7.6B | SOFR + 6.00% (investment-grade contracts) to 13.00% | Aug 2030 | Not named; spread set by each customer's rating | Blackstone, Magnetar | SEC EDGAR |
| CoreWeave DDTL 2.1 | Sep 29, 2025 | $3.0B | SOFR + 4.25% | Mar 2031 | Not named | Not named (U.S. Bank Trust agent) | SEC EDGAR |
| CoreWeave DDTL 3.0 | Jul 28, 2025 | $2.6B | SOFR + 4.00% | Aug 2030 | OpenAI | Morgan Stanley, MUFG, Goldman Sachs | CoreWeave |
| CoreWeave DDTL 4.0 | Mar 30, 2026 | $8.5B | SOFR + 2.25% floating; UST + 2.00% fixed (about 5.9%) | Mar 2032 | Not named by CoreWeave ("a large AI enterprise customer"); Meta, per Bloomberg | MUFG, Morgan Stanley, Goldman Sachs, JPMorgan; Blackstone anchor | SEC EDGAR |
| CoreWeave DDTL 5.0 | May 15, 2026 | $3.1B | SOFR + 4.50% | Nov 2031 (final payment expected May 2031) | Not named | Morgan Stanley, MUFG | SEC EDGAR |
| CoreWeave DDTL 5.5 | Aug 7, 2026 | $2.6B | SOFR + 5.50% | Sep 1, 2031 | Not named | JPMorgan, MUFG | SEC EDGAR |
Financings (24)
| Date | Amount | Type | Lenders | Pricing | Source |
|---|---|---|---|---|---|
| Sep 18, 2026 | $4.2B | Convertible notes | Not named | 2.875% fixed; conversion price ~$97.85/share; capped calls to $199.70 | CoreWeave |
| Aug 10, 2026 | $2.6B | DDTL | JPMorgan, MUFG | Term SOFR + 5.50% (base rate + 4.50%); 0.50% undrawn fee | CoreWeave |
| Jun 11, 2026 | $1.3B | Senior notes | Not named | 9.625% fixed, issued at par | CoreWeave |
| Jun 11, 2026 | $2.3B | Senior notes | Not named | 8.50% fixed, issued at par | CoreWeave |
| May 18, 2026 | $3.1B | DDTL | Morgan Stanley, MUFG | SOFR + 4.50% (tightened 50 bps in syndication); 0.50% undrawn fee | CoreWeave |
| Apr 16, 2026 | $1B | Senior notes | Not named | 9.75% coupon, issued at 102.0% of par | CoreWeave |
| Apr 10, 2026 | $4B | Convertible notes | Not named | 1.75% fixed; conversion price ~$119.60/share; capped calls to $230 | CoreWeave |
| Apr 9, 2026 | $1.8B | Senior notes | Not named | 9.75% fixed | CoreWeave |
| Mar 31, 2026 | $8.5B | DDTL | MUFG, Morgan Stanley, Goldman Sachs, JPMorgan, Blackstone | Floating: daily SOFR + 2.25%; fixed: UST + 2.00% (~5.9%); 0.50% undrawn fee | Pulse 2.0 (reprint of CoreWeave release) |
| Dec 9, 2025 | $2.6B | Convertible notes | Not named | 1.75% fixed; conversion price ~$107.80/share; capped calls to $215.60 | CoreWeave |
| Nov 12, 2025 | $2.5B | Revolver | JPMorgan, Goldman Sachs, Morgan Stanley, MUFG +5 | 0.25% undrawn fee (margin not disclosed in release) | CoreWeave |
| Sep 29, 2025 | $3B | DDTL | Not named | Term SOFR + 4.25% (base rate + 3.25%); 1.50% upfront fee per draw | SEC / CoreWeave |
| Jul 31, 2025 | $2.6B | DDTL | Morgan Stanley, MUFG, Goldman Sachs +7 | SOFR + 4.00%; 0.50% undrawn fee | CoreWeave |
| Jul 22, 2025 | $1.8B | Senior notes | Not named | 9.00% fixed, issued at par | SEC / CoreWeave |
| May 21, 2025 | $2B | Senior notes | Not named | 9.25% fixed, issued at par | CoreWeave |
| May 6, 2025 | $1.5B | Revolver | JPMorgan, Goldman Sachs, Morgan Stanley, MUFG +5 | - | CoreWeave |
| Mar 7, 2025 | $300M | Term loan | Morgan Stanley | Term SOFR + 1.75% plus 2.25% fee | SEC / CoreWeave |
| Jan 1, 2025 | n/d | Vendor financing | Not named | weighted effective rate ~10% (FY2025 10-K) | SEC / CoreWeave |
| Dec 16, 2024 | $1B | Term loan | JPMorgan | Term SOFR + 5.25% to 6.25% (stepping up with time outstanding) | SEC / CoreWeave |
| Oct 11, 2024 | $650M | Revolver | JPMorgan, Goldman Sachs, Morgan Stanley +7 | Term SOFR + 1.75%; 0.25% unused fee | CoreWeave |
| Aug 2024 | $230M | Other | Magnetar | refund with multiplier equal to a 12% annual return | SEC / CoreWeave |
| May 17, 2024 | $7.5B | DDTL | Blackstone, Magnetar +7 | Term SOFR + 6.00% to 13.00% depending on customer credit rating (IG contracts SOFR + 6.00-6.50%; non-IG SOFR + 13.00%) | Blackstone |
| Feb 2024 | $1.3B | Vendor financing | Not named | effective interest rates 9% to 11% | SEC / CoreWeave |
| Aug 3, 2023 | $2.3B | DDTL | Magnetar, Blackstone +5 | Term SOFR + 9.6196% (base rate + 8.6196%) | Blackstone |
Compute contracts (15)
| Date | Buyer | Seller | Type | Value | Term | Source |
|---|---|---|---|---|---|---|
| Apr 15, 2026 | Jane Street | CoreWeave | GPU capacity | $6B | - | SEC |
| Mar 31, 2026 | Meta | CoreWeave | GPU capacity | $21B | 6.7 yrs | SEC |
| Mar 2026 | Anthropic | CoreWeave | GPU capacity | n/d | - | SEC |
| Oct 30, 2025 | CoreWeave | Core Scientific | Data center lease | $6.7B | 12 yrs | Core Scientific |
| Oct 15, 2025 | Poolside | CoreWeave | GPU capacity | n/d | - | CoreWeave |
| Sep 25, 2025 | Meta | CoreWeave | GPU capacity | $14.2B | 6.2 yrs | SEC |
| Sep 23, 2025 | OpenAI | CoreWeave | GPU capacity | $6.5B | 5.7 yrs | SEC |
| Sep 9, 2025 | NVIDIA | CoreWeave | Backstop | $6.3B | 6.6 yrs | SEC |
| Jul 30, 2025 | CoreWeave | Applied Digital | Data center lease | $4B | 15 yrs | Baxtel |
| Jun 2, 2025 | CoreWeave | Applied Digital | Data center lease | $7B | 15 yrs | Bisnow |
| May 15, 2025 | OpenAI | CoreWeave | GPU capacity | $4B | 4 yrs | Bloomberg |
| Mar 28, 2025 | CoreWeave | Galaxy | Data center lease | n/d | 15 yrs | Galaxy |
| Mar 10, 2025 | OpenAI | CoreWeave | GPU capacity | $11.9B | 5 yrs | SEC |
| Jun 3, 2024 | CoreWeave | Core Scientific | Data center lease | $3.5B | 12 yrs | SEC |
| Apr 2023 | Microsoft | CoreWeave | GPU capacity | $10B | 7 yrs | SEC |
Loans secured on CoreWeave contracts
| Date | Borrower | Amount | Type | Lenders | Source |
|---|---|---|---|---|---|
| Jul 23, 2026 | Galaxy | $3.5B | Senior notes | Not named | SEC |
| Jun 16, 2026 | Applied Digital | $1.6B | Senior notes | Not named | SEC |
| May 1, 2026 | Applied Digital | $300M | Construction loan | Goldman Sachs | SEC |
| Apr 22, 2026 | Core Scientific | $3.3B | Senior notes | Not named | SEC |
| Nov 20, 2025 | Applied Digital | $2.4B | Senior notes | Morgan Stanley | SEC |
| Aug 15, 2025 | Galaxy | $1.4B | Project finance | Deutsche Bank | DCD |
Inference
CoreWeave serves open-weight models through a large public LLM router. Rank is by tokens of other labs' open-weight models in the 7 days to Oct 9, 2026. CoreWeave models and prices.
| Provider | Open-weight models | Rank, 7 days | Top models |
|---|---|---|---|
| CoreWeave | 19 | #11 | DeepSeek V4.1 Flash, DeepSeek V4 Flash 0731, GLM 5.3 Flash |
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