CoreWeave, Inc. (NASDAQ:CRWV) shares are trading higher after the company announced it closed an $8.5 billion financing facility, marking the first investment-grade rated GPU-backed financing.

$8.5B Deal Marks First Investment-Grade GPU-Backed Financing

CoreWeave said the delayed draw term loan facility, known as DDTL 4.0, received ratings of A3 from Moody's and A (low) from DBRS, representing the first investment-grade rated financing secured by high-performance computing infrastructure and an associated customer contract.

The company noted the structure allows it to borrow approximately $7.5 billion initially, with the ability to increase total capacity to $8.5 billion as underlying assets stabilize.

CoreWeave said the facility is designed to provide enhanced access to low-cost capital and support continued investment to meet customer demand.

The company added that the transaction fulfills financing requirements tied to previously contracted cloud services with a leading AI enterprise, expanding its high-performance AI cloud footprint.

CoreWeave said the facility includes a floating rate tranche priced at SOFR plus 2.25% and a fixed rate tranche of approximately 5.9%, with maturity in March 2032.

The company also noted the transaction builds on financing momentum, with total equity and debt commitments reaching approximately $28 billion over the past 12 months.

CoreWeave Shares Trend Higher

CRWV Price Action: At the time of publication, CoreWeave shares are trading 4.97% higher at $72.60, according to data from Benzinga Pro.

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