CoreWeave has expanded its revolving credit facility to $2.5 billion, up from $1.5bn.

In addition to expanding the value of the facility, its maturity date has been further extended from May 2028 to November 2029.

The facility is led by JPMorgan Chase Bank, Goldman Sachs, Morgan Stanley, and MUFG, with participation from Citibank, Credit Agricole, Deutsche Bank, Sumitomo Mitsui Banking Corporation, and Wells Fargo.

How the funding will be used has not been explicitly stated, beyond that it will help CoreWeave to "support its growth initiatives."

“This facility underscores the ongoing confidence in our differentiated business model and provides us with additional flexibility to execute on the tremendous growth roadmap ahead,” said Brannin McBee, co-founder and chief development officer, CoreWeave.

“We value the partnership with our banking partners. This financing expansion demonstrates their leadership in the evolving AI landscape and acknowledges CoreWeave’s strong credit profile and growth prospects.”

During CoreWeave's recent earnings call, company executives said that year to date, it had secured $14 billion in debt and equity transactions. The company saw a strong quarter, with revenue of $1.4bn, up 134 percent year-over-year, though it suffered a setback with a data center delay related to a third-party data center provider.