New Jersey-based data center operator CoreWeave is pursuing a $1.5 billion debt raise, following a scaled-down IPO that fell short of initial expectations. As reported by the Financial Times, CoreWeave is conducting a roadshow with JPMorgan this week to assess investor appetite for the new debt offering.
CoreWeave had aimed to raise $2.7 billion during its March IPO but was forced to halve that figure to $1.5 billion amid concerns over its mounting debt and a softening AI infrastructure market. With $12.9 billion in debt raised over the past two years, the company faces $7.5 billion in payments by 2026, prompting urgent efforts to secure additional financing.
Featured image: Credit: CoreWeave
