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What will be CoreWeave's primary use of the $650 million credit facility by the end of 2024?
3
Resolution / Starting Odds
AI data center expansion • 25%
Research and development • 25%
Acquisitions • 25%
Other • 25%
Official announcements from CoreWeave or verified reports from financial news outlets
Story
CoreWeave Secures $650 Million Credit Facility, Cisco Investment Valuing at $23 Billion
Oct 11, 2024, 12:25 PM
CoreWeave, an Nvidia-backed AI startup, has secured a $650 million credit facility led by JPMorgan, Goldman Sachs, and Morgan Stanley. This credit line aims to support CoreWeave's growth strategy and capitalize on new opportunities in the rapidly evolving AI space, according to CEO Mike Intrator. The company has raised $12.7 billion from equity and debt investors over the past 18 months. Cisco is also close to investing in CoreWeave, valuing the company at $23 billion as both companies aim to lead in AI data center development.
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