CoreWeave has secured an $8.5 billion loan from a consortium led by Morgan Stanley and Mitsubishi UFJ Financial Group, with the financing backed by a contract with Meta valued at up to $14.2 billion and an additional Meta agreement worth more than $5 billion. The loan is expected to close in March 2026 and will provide a substantial liquidity cushion as the company expands its AI‑focused data‑center portfolio.
The financing will fund CoreWeave’s data‑center build‑out and support its capital‑intensive growth strategy. The company’s business model centers on delivering high‑performance AI workloads, positioning it against larger hyperscalers such as AWS and Microsoft Azure. The Meta‑backed collateral underscores the importance of that partnership and complements NVIDIA’s $2 billion investment and capacity guarantee, which together strengthen CoreWeave’s access to cutting‑edge AI hardware.
CoreWeave’s financial profile remains heavily leveraged. The company carries a below‑investment‑grade credit rating, a negative net margin, and an adjusted leverage ratio of roughly 6.9 times earnings as of late September. Moody’s expects CoreWeave to continue spending more than it earns for at least the next year and a half, so the new loan, while providing liquidity, also increases the firm’s debt burden and interest‑coverage pressure.
Market reaction to the announcement was positive: CoreWeave’s shares rose 7.7% on February 24, driven by the secured financing and Meta’s backing. Earlier, on February 20, the stock had fallen 8% after reports of a financing delay with Blue Owl Capital, highlighting concerns about the company’s credit rating and debt‑financing environment.
The loan positions CoreWeave to scale its AI infrastructure amid a booming demand for cloud‑based AI services, but the high leverage and debt servicing costs remain a risk. The Meta‑backed collateral may improve lender confidence, and investors will closely monitor the company’s February 26 earnings for guidance on capital expenditures, debt management, and the impact of the new financing on future growth prospects.
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