CoreWeave announced plans on September 17, 2026, to raise $3 billion through a private placement of convertible senior notes due in 2033. Initial purchasers have an option to acquire an additional $500 million in notes. The coupon is expected to range between 2.375% and 2.875%, with a conversion premium of 22.5% to 27.5% above the current stock price.
The company intends to use the proceeds for capped call transactions, capital expenditures, debt repayment, and general corporate purposes. Simultaneously, CoreWeave launched an equity program to sell up to 35 million Class A common shares. The goal is to improve the company's investment-grade credit profile and reduce future borrowing costs.
This move follows a similar offering in April 2026, when the company raised $3.5 billion. CoreWeave reported revenue of $5.13 billion for 2025. As of August 11, 2026, its contracted power capacity reached 4.2 gigawatts, up from 3.7 gigawatts at the end of the second quarter. Recent short-term contracts are priced at roughly $40 million per megawatt annually.
Following the announcement, CoreWeave shares declined by more than 3%. Prior to this, the stock had recorded a year-to-date gain of over 16%. The company, founded in 2017 and public since March 2025, operates as a neocloud provider, positioning itself between major hyperscalers and specialized GPU rental services.
