Blackstone and Magnetar lead $7.5bn CoreWeave debt financing facility

Private Equity Wire

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, and 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.

The full article is available here. This article was published at Private Equity Wire.