CoreWeave announced early Thursday plans to issue $3.5 billion in senior notes due in 2032, comprising both U.S. dollar- and euro-denominated debt. The neocloud operator intends to use the proceeds for general corporate purposes, including repayment of outstanding indebtedness, and to pay fees, costs and expenses in connection with the offering. The announcement came amid a broader market rebound on Thursday, as CoreWeave stock gained 1% in the early premarket session.
CoreWeave Issues $3.5 Billion Senior Notes Due 2032
CoreWeave announced the intention to offer $3.5 billion in senior notes due in 2032, comprising both U.S. dollar- and euro-denominated debt. The company stated it will use the proceeds for general corporate purposes, including repayment of outstanding indebtedness, and to pay fees, costs and expenses in connection with the offering.
CoreWeave, which went public in March 2025, has stepped up debt issuance in recent months to fund a rapid capacity expansion to service the growing demand for cloud computing, including from its major hyperscaler customers. The company raised sizable debt in March and April, and has raised over $20 billion through notes due from 2030 to 2032 since becoming a public company.
CoreWeave Reports 111% Revenue Growth and Record Net Loss
CoreWeave's revenue increased 111% year over year to $2.08 billion in the last quarter. In fact, sales have doubled in all quarters previously. Net loss was $1.48 billion last quarter, a record, as the company spent aggressively to expand its AI infrastructure and data center capacity.
CoreWeave Stock Declines 20% From June 1 Peak
CoreWeave shares have declined over 20% from a recent peak on June 1. They are still up 33% year to date. On Stocktwits, the retail sentiment for CRWV dropped to 'bearish' from 'neutral' the previous day, with traders expressing frustration around the stock's recent underperformance.
A Bloomberg report on Tuesday said the company's co-founder — CEO Michael Intrator, Chief Development Officer Brannin McBee, and Chief Strategy Officer Brian Venturo — have collectively offloaded $2.3 billion since CoreWeave's IPO.
CRWV shares also found support from a broader market rebound on Thursday, after a sharp decline the previous day. The benchmark S&P 500 declined 1.6% on Wednesday, and oil prices rose further, but U.S. stock futures were higher in Thursday's premarket session.
FAQ
What did CoreWeave announce on Thursday?
CoreWeave announced early Thursday plans to issue $3.5 billion in senior notes due in 2032, comprising both U.S. dollar- and euro-denominated debt. The company intends to use the proceeds for general corporate purposes, including repayment of outstanding indebtedness.
How much revenue did CoreWeave report in the last quarter?
CoreWeave's revenue increased 111% year over year to $2.08 billion in the last quarter. Net loss was $1.48 billion last quarter, a record.
How much have CoreWeave co-founders sold since the IPO?
A Bloomberg report on Tuesday said the company's co-founder — CEO Michael Intrator, Chief Development Officer Brannin McBee, and Chief Strategy Officer Brian Venturo — have collectively offloaded $2.3 billion since CoreWeave's IPO in March 2025.
