CoreWeave has priced a private offering of convertible senior notes totaling $3,7 billion, an increase from the initially planned $3 billion. The total could reach $4,2 billion if purchasers exercise a 13-day option for an additional $500 million.
The notes carry a 2,875% coupon and mature on April 1, 2033. This financing is cheaper than the company's existing senior debt, which carries interest rates between 8,5% and 9,75%.
Net proceeds are estimated at $3,6445 billion, with potential to reach $4,137 billion. Approximately $498,8 million will be used for capped call transactions to mitigate shareholder dilution. The initial conversion price is set at $97,85 per share.
The company also launched an at-the-market equity program to sell up to 35 million Class A shares. CoreWeave reported a contracted power capacity of 4,2 gigawatts as of August 11, 2026, with short-term contract pricing around $40 million per megawatt annualized.
