Michael Intrator, Founder & CEO of CoreWeave, Inc., Nvidia-backed cloud services provider, reacts during the company’s IPO at the Nasdaq Market, in New York City, U.S., March 28, 2025.Â
Brendan Mcdermid | Reuters
CoreWeave stock rose more than 5% after the renter of artificial intelligence data centers said it plans to sell $1.5 billion worth of bonds.
The company said in a release that the notes, due in 2031, will use the capital for general purposes, such as paying off debt.
In May, the company announced a $2 billion debt offering plan that sent shares soaring 19%. At the time, CNBC confirmed that the debt was five times oversubscribed. Last week, Coreweave shares rallied after the company announced a $6 billion AI data center project in Pennsylvania.
CoreWeave, whose biggest clients include Nvidia and Microsoft, has more than tripled in share price since its March debut on the Nasdaq.
Some investors have raised concerns about the company’s debt and the sustainability of demand for its products. In May, CEO Michael Intrator defended CoreWeave’s spending plans and said it is meeting major client “demand signals.”
