CoreWeave expands credit facility to $2.5 billion, extends maturity

LIVINGSTON, N.J. - CoreWeave, Inc. (NASDAQ:CRWV), a cloud computing provider focused on AI infrastructure, announced Wednesday it has amended its revolving credit facility, increasing it from $1.5 billion to $2.5 billion while extending the maturity date from May 2028 to November 2029. This move comes as the company carries approximately $18.8 billion in total debt as of the most recent quarter, according to InvestingPro data.

The expanded 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 at CoreWeave, according to the company’s press release.

The company claims the financing expansion demonstrates their banking partners’ recognition of CoreWeave’s credit profile and growth prospects.

CoreWeave, which brands itself as "The Essential Cloud for AI," provides cloud infrastructure services targeting artificial intelligence applications. The company serves AI labs, startups, and global enterprises.

Founded in 2017, CoreWeave completed its public listing on Nasdaq under the ticker symbol CRWV in March 2025.

The announcement comes as the company continues to position itself in the competitive cloud computing market for AI infrastructure services.

In other recent news, CoreWeave reported $1.4 billion in revenue for the third quarter of fiscal year 2025, surpassing consensus estimates. The company also achieved an adjusted operating margin of 15.9%, attributed to strong GPU demand. Despite these positive results, supply chain delays have impacted CoreWeave’s revenue timing, prompting JPMorgan to downgrade the stock from Overweight to Neutral. Macquarie also lowered its price target to $115, citing delivery delays affecting fourth-quarter performance. Meanwhile, BofA Securities adjusted its price target to $140, reflecting supply constraints that have led CoreWeave to reduce its fiscal year 2025 outlook by $150 million. Stifel reiterated a Hold rating with a $120 price target, noting mixed third-quarter results. Morgan Stanley, however, raised its price target to $99, recognizing CoreWeave’s success in securing large contracts in the GPU infrastructure market.

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