TSL Express Daily News
The Secured Lender
SFNet's 80th Annual Convention Issue
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Top 5 Apps for Organizing
Mar 7, 2019If you’re like most of us, we try to stay organized in business and life, but it gets increasingly complicated…
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The Importance of Stretching
Mar 7, 2019Every personal trainer and athletic coach I have ever worked with has stressed the importance of stretching. When working out…
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SFNet's 40 Under 40 Award Winners Panel Recap
Mar 6, 2019Moderator: Samantha Alexander, regional underwriting manager, Wells Fargo Capital Finance’s Corporate Asset Based Lending group and 2016 CFA 40 Under…
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SFNet's Inaugural YoPro Leadership Summit
Mar 6, 2019The Secured Finance Network brought together the next generation of commercial finance leaders for a full day of learning and…
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It’s a Marathon, Not a Sprint
Aug 22, 2018I was recently invited to participate in an executive panel to answer questions from a credit training class comprised of...
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It’s Not Too Late – Five Member Benefits to Cash In On Now
Aug 1, 2018As we hit the half way mark on calendar year 2018, it is a good time to take stock and…
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It’s Time To Break Up With Your Phone
Jul 18, 2018Do I have your attention? Let’s be honest here: do you have the attention span to read this article? Compared…
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Lien Management – What You Need to Know
Jun 6, 2018UCC filing is the cornerstone of all loans and every lien portfolio...
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Potential Impacts of Blockchain on Commercial Lending
Jan 15, 2018By Raja Sengupta, Executive Vice President and General Manager, Wolters Kluwer’s Lien Solutions When it comes to the rising importance…
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How to be a Good Leader
Dec 5, 2017I know what you’re thinking…another article about how to be a good leader? The short answer is yes…but this time,…
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Fintech and Due Diligence – Disruptors and Established Firms Evolve
Oct 30, 2017The fintech sector has gone through a number of manifestations in the past two decades.
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A Commercial Banker’s Tickler Transition Plan
Oct 18, 2017Just do a keyword search for “bank tickler,” and you’ll quickly realize that banks are still heavily reliant on manual…
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Understanding and Developing Your Personal Brand: Four Steps to a More Intentional Career Progression
Sep 5, 2017It is imperative for individuals to have a general idea about their future career aspirations, just as companies should have clearly defined strategies.
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Selecting a Technology Vendor: 3 Questions to Ask
Jul 5, 2017As with anything else at your bank, selecting a technology vendor can be a challenging decision. Users from across different…
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Why Back-Office Lending Automation Enhances Customer Satisfaction
Apr 25, 2017Every bank strives to keep its customers happy. Of course, some institutions are better at achieving this goal than…
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The Lost Art of the Loan Purchase
Mar 2, 2017Purchasing a loan directly from a bank whether at par or discount is a not-often-used technique that is easily…
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Audit Prep: Why a Paperless Approach Makes Sense
Feb 15, 2017How much time does your financial institution spend preparing for audits? We recently surveyed 187 community banks, and the results…
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Back Office Support Services: Helping you approve more clients
Feb 7, 2017How many times have you come across a potential client who’s financials are either not up to date, not accurate,…
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“All Assets” is the Key When Drafting UCC-1 Financing Statement Collateral Descriptions
Jan 30, 2017Even when prepared by outside or in-house counsel, many lenders pay close attention to draft UCC financing statements before they…
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Paper Loan Files: Does Your Bank Know the True Cost?
Jan 12, 2017Sure, there’s a tangible cost associated with deploying an electronic loan imaging system. Software, support, and scanning hardware are just…
October 14, 2024
Source: PR Newswire
New financing led by JPMorgan, Goldman Sachs, and Morgan Stanley builds on $12.7 billion raised from debt and equity investors over the last 18 months, accelerating CoreWeave's position as the AI Hyperscaler
ROSELAND, N.J., Oct. 11, 2024 /PRNewswire/ -- CoreWeave, the AI Hyperscaler™, today announced it has closed a $650 million credit facility, led by JPMorgan Chase, Goldman Sachs, and Morgan Stanley, with participation from Barclays, Citi, Deutsche Bank, Jefferies, Mizuho, MUFG, and Wells Fargo. Proceeds from this revolving credit facility will allow CoreWeave to continue scaling its global operations and equip its world-class roster of customers with the infrastructure to power the next generation of AI innovation.
Today's announcement builds on the $12.7 billion raised from equity and debt investors over the last 18 months. These financings include a landmark $7.5 billion debt financing facility led by Blackstone and Magnetar in May 2024, which Blackstone cites as one of the largest private credit financings in history. Coatue led CoreWeave's $1.1 billion Series C in May 2024, following a $2.3 billion debt financing facility led by Blackstone and Magnetar in August 2023.
"This credit facility provides additional liquidity to accelerate our growth strategy and capitalize on new opportunities in the rapidly evolving AI space," said Mike Intrator, CEO and co-founder of CoreWeave. "The incredible support from this syndicate enables us to continue scaling cutting-edge solutions for our clients. Our investors and financial partners recognize that CoreWeave can deliver a superior compute experience grounded in our software advantage. That's also why the world's leading AI enterprises host their training and inference on CoreWeave infrastructure, and why they keep coming back for more capacity."
CoreWeave recently opened its European headquarters in London and has committed to invest $3.5 billion in London and continental Europe. In August, CoreWeave announced it was the first cloud provider to bring NVIDIA H200 Tensor Core GPUs to its customers – continuing a track record of being first-to-market. By the end of 2024, CoreWeave expects to open 28 data centers globally, with an additional 10 new data centers planned in 2025.
About CoreWeave
CoreWeave, the AI HyperscalerTM, delivers a cloud platform of cutting-edge software powering the next wave of AI. The company's technology provides enterprises and leading AI labs with cloud solutions for accelerated computing. Since 2017, CoreWeave has operated a growing footprint of data centers across the US and Europe. CoreWeave was ranked as one of the TIME100 most influential companies and featured on Forbes Cloud 100 ranking in 2024. Learn more at www.coreweave.com.
Media Contact:
coreweave@teneo.com