CoreWeave has closed a $2.6 billion delayed draw term loan facility.

The company revealed today, July 31, that it had secured the funding, dubbed DDTL 3.0, which will be used to support the purchase and maintenance of "advanced equipment, hardware, and cloud infrastructure systems to deliver services under a long-term agreement with OpenAI."

The facility was led by Morgan Stanley and MUFG as joint bookrunners and joint lead arrangers. Goldman Sachs supported the deal as a joint lead arranger. JPMorgan Chase, Wells Fargo, BBVA, Crédit Agricole, SMBC, PNC, and Société Générale also took part.

"We’re proud to partner with leading financial institutions on this landmark transaction that delivers on our commitment to lower our cost of capital,” said Brannin McBee, chief development officer and co-founder of CoreWeave. “This is another step forward in our ability to provide our highly specialized AI cloud platform at massive scale to meet the demands of our innovative clients.”

“CoreWeave is an important partner in OpenAI’s overarching AI infrastructure platform,” said Sarah Friar, CFO of OpenAI. “Scaling advanced AI requires world-class compute infrastructure, and partnering with CoreWeave and leading financial institutions enables us to train more capable models and deliver better experiences to people around the world."

DDTL 3.0 is financed at a SOFR of +4 percent and matures on August 21, 2030. The facility is secured by substantially all assets of CoreWeave Compute Acquisition Co. VII, LLC.

CoreWeave signed a new $4bn contract with OpenAI in May 2025, building on a prior $11.9bn commitment with the AI startup. The company is also reportedly providing some compute for Google's deal with OpenAI.

This latest fundraise shortly follows the July 28 closing of a $1.75 billion Senior Notes offering. Originally set to raise $1.5bn in a bond sale, CoreWeave later upped this to $1.75bn. Those notes could be used for "general corporate purposes, including, without limitation, repayment of outstanding indebtedness, and to pay fees, costs, and expenses in connection with the offering of the notes," and follow another $2bn raise in May 2025.

According to CoreWeave, the company has raised more than $25 billion in total through both equity financing and debt capital commitments in the past 18 months. This is up from the $21bn revealed by CEO Michael Intrator during the company's first public earnings call in May 2025.