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Blackstone and Magnetar lead $7.5bn CoreWeave debt financing facility

AI hyperscaler CoreWeave, which operates data centres in the US, has secured a $7.5bn debt financing facility led by funds managed by Blackstone with participation from Magnetar as co-lead investor, as well as Coatue Management.

Other firms to participate in the financing include Carlyle, CDPQ, DigitalBridge Credit, funds and accounts managed by BlackRock, Eldridge Industries and Great Elm Capital.

In a press statement, CoreWeave said it would use the new financing to further develop its “growing fleet of high-performance compute to execute existing contracts with leading enterprise customers and AI innovators”.

CoreWeave has raised over $12bn from equity and debt investors over the last 12 months, including a $1.1bn Series C funding round earlier this month led by Coatue, and a $2.3bn debt financing facility led by Blackstone and Magnetar last August.

The company also recently opened its headquarters in London and said it planned to invest $1.25bn in the region.

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