CoreWeave is planning to offer $2bn in convertible senior notes in a private offering.

Update -

CoreWeave has since upsized the offering to $2.25bn due to strong demand. Initial purchasers have the option to buy an additional $337.5m.

Original story resumes -

The notes will be due in 2031, though the company has not stated when it is likely to make the offer.

The neocloud said it will also offer the initial purchasers the option to acquire an additional $300 million in notes with settlement within a 13-day period.

The notes will be guaranteed by CoreWeave's wholly-owned subsidiaries that guarantee its existing 9.25 percent senior notes, due in 2030, and nine percent senior notes, due in 2031, will accrue interest payable in cash semi-annually in arrears, and will mature on December 1, 2031, unless earlier repurchased, redeemed, or converted. The conversion rate of the latest offering will be determined at the time of pricing the offering.

CoreWeave will settle the notes via cash, shares in Class A common stock, or a combination of both.

According to CoreWeave, the company will use the proceeds to fund the cost of entering into "capped call transactions" with one or more of the initial purchasers or other financial institutions that will cover a number of shares. The remaining proceeds will go towards "general corporate purposes."

During CoreWeave's latest earnings call, the company said it had secured $14 billion in debt and equity transactions in 2025 alone. In November, it increased its revolving credit facility to $2.5bn, up from $1.5bn.