CoreWeave, Inc., the Livingston-based cloud computing company specializing in artificial intelligence infrastructure, announced Nov. 12 that it entered into an agreement to increase its revolving credit facility from $1.5 billion to $2.5 billion and extend the maturity date from May 2028 to November 2029.
The amended agreement provides enhanced flexibility and enables CoreWeave to support its growth initiatives.
The facility is led by JPMorgan Chase Bank, Goldman Sachs, Morgan Stanley and MUFG, with participation from Citibank, Credit Agricole, Deutsche Bank, Sumitomo Mitsui Banking Corporation and Wells Fargo.
“This facility underscores the ongoing confidence in our differentiated business model and provides us with additional flexibility to execute on the tremendous growth roadmap ahead,” said Brannin McBee, co-founder and chief development officer, CoreWeave.
“We value the partnership with our banking partners. This financing expansion demonstrates their leadership in the evolving AI landscape and acknowledges CoreWeave’s strong credit profile and growth prospects.”
The agreement follows CoreWeave’s announcement of a major global partnership with CrowdStrike.
