CoreWeave Tapping Junk Debt Market After Meta AI Computing Deal
CoreWeave Inc. signage in Times Square in New York.
Photographer: Yuki Iwamura/BloombergCoreWeave Inc. is extending a borrowing spree after striking a new deal to supply artificial intelligence computing power to Meta Platforms Inc.
The cloud infrastructure firm is selling $1.75 billion of high-yield notes maturing in 2031, upsized from $1.25 billion, and another $3 billion of debt due 2031 that is convertible into equity, it said Wednesday in a filing.