CoreWeave plans to raise at least $4 billion through investment-grade loans to purchase Nvidia chips.

CoreWeave, an AI computing cloud service provider, is seeking to raise at least $4 billion through an investment-grade, asset-backed loan led by Morgan Stanley. The funds will be used to purchase Nvidia chips and other computing equipment for a contract with an investment-grade client, with an expected annual interest rate between 7% and 7.5%. CEO Michael Intrator stated that at current interest rates, the company will no longer raise funds through the unsecured bond market. (Source: Bloomberg)