CoreWeave seeks $3 billion via convertible debt and ATM stock sale

CoreWeave disclosed a plan to secure $3 billion via a convertible debt offering, permitting early buyers to purchase up to an additional $500 million. In parallel, the company opened an at-the-market equity program for up to 35 million shares, which could raise roughly $2.92 billion based on the closing price, with execution dependent on market conditions. The ATM program is being run by Deutsche Bank, Goldman Sachs, J.P.

Morgan and other banks as CoreWeave works toward an investment-grade credit rating. Funds from the debt will partly protect against dilution, while the bulk will finance its AI compute infrastructure build-out. Recent quarterly data showed contracted power rising to about 4.2 GW and a revenue backlog of $104.2 billion, underscoring the scale of its growth needs.