Data center operator CoreWeave is reportedly seeking a $1.5 billion debt deal after a disappointing IPO.
According to the Financial Times, CoreWeave is holding a roadshow this week with bankers at JPMorgan for debt options. The company’s executives intend to use the meetings to gauge investor interest.
New Jersey-based CoreWeave listed its shares in March, initially targeting a $2.7 billion fundraise. The company was forced to slash that total to $1.5 billion following investor concern about its large debt burden and a weakening market for AI infrastructure.
CoreWeave, which has customers including Microsoft, raised $12.9 billion of debt in the past two years to build data centers. The company had about $8 billion of total debt on its balance sheet as of December 2024, and is facing debt and interest payments of $7.5 billion by the end of 2026, the Financial Times previously reported.
TechCrunch has contacted CoreWeave for comment.
Keep reading the article on Tech Crunch