CoreWeave Announces $2B Convertible Notes Offering, Shares Slip in Pre-Market

CoreWeave (CRWV), a fast-growing AI cloud and GPU infrastructure provider, revealed plans to raise $2 billion through a private offering of convertible senior notes due 2031. The move marks one of the company’s largest capital raises as it continues scaling infrastructure to meet soaring AI demand.

Details of the $2B Convertible Notes Offering

CoreWeave intends to issue $2B aggregate principal amount of convertible senior notes, with a scheduled maturity in 2031.

Key Terms

$2B initial convertible notes offering
Option for initial purchasers to buy an additional $300M
Interest rate, conversion price, and other terms to be finalized at pricing
Offered in a private placement to qualified institutional buyers

Use of Proceeds

The company plans to allocate the raised funds toward:

Planned Uses

Funding capped call transactions to reduce future dilution
Supporting general corporate purposes, including infrastructure expansion
Strengthening liquidity for AI-cloud growth initiatives

Market Reaction

Following the announcement, CRWV shares traded 4% lower during pre-market hours on Monday, as investors assessed dilution risk and the scale of the capital raise.

Strategic Context

CoreWeave continues to scale rapidly as AI compute demand accelerates, with capital-intensive buildouts of GPU clusters, data centers, and networking infrastructure. The notes offering helps bolster financial flexibility while managing future equity dilution through capped call structures.