This Is Our Moment

I’m thrilled to announce that we just closed the largest private debt financing of all time - a $7.5 billion debt facility led by returning investor Blackstone, with strategic participation from Magnetar and Coatue. Participation also included Carlyle, CDPQ, DigitalBridge Credit, with funds and accounts managed by BlackRock, Eldridge Industries, and Great Elm Capital Corp.

This news follows our $1.1 billion Series C round led by Coatue earlier in May 2024, which was one of the largest in history. Others who participated include Magnetar, who led the last primary round, Altimeter Capital, Fidelity Management & Research Company, and Lykos Global Management.

We are also going global. Earlier this month we announced our new European headquarters based in London, and a $1.25 billion investment in the region – kickstarting a broader expansion plan in the continent. Our launch and growth in the UK was acknowledged by Prime Minister Rishi Sunak, and Michelle Donelan, Secretary of State for Science, Innovation and Technology, and we couldn’t be more excited to kick into a higher gear there. 

It’s safe to say I am super excited about what this all means for the future of CoreWeave and the AI ecosystem. We are on the cusp of seismic changes in our industry and now operating on a global scale. We've been preparing for this moment – and we are gearing up to deliver even more computing power through our platform that will change the world. 

Looking Back

I struggle to find the words to describe how proud I am of everything we’ve achieved as a CoreWeave team. AI continues to penetrate technology, business, science, society, and fundamentally transform how we all live. And the market’s continued demand for critical AI infrastructure - and the platform through which we deliver it - is simply insatiable. 

Our team at CoreWeave has been working tirelessly at breakneck speed to build the specialized AI cloud that is necessary to power this sea change. All of our success comes down to the team’s vision and ambition, combined with disciplined execution, engineering ingenuity, and capital markets expertise.

Reflecting now that we’re 12 months out from our Series B in May 2023, we’ve achieved some incredible milestones in the last year.  We’ve grown from 3 guys in a garage to 550 in locations around the world, and from 3 data centers to 28 by the end of 2024. 

We’ve raised a total of $12 billion dollars in equity ($1.1 billion in May, $642 million in December, $420 million in April 2023) and debt ($7.5 billion today, $2.3 billion in August 2023), from the largest and most well respected institutional investors in the world.  

A lot of blood, sweat and tears, and quite a few gray hairs later, here we are. 

We’ve built the AI hyperscaler. And there’s a lot more where that came from.