CoreWeave announced a private offering of convertible senior notes totaling $3 billion, due in 2033. Initial purchasers have an option to acquire an additional $500 million in notes. This move follows a $4 billion offering completed in April 2026, which was originally planned for $3 billion.
The new notes will be secured by specific company subsidiaries and will pay cash interest on a semi-annual basis. Upon conversion, CoreWeave can settle obligations in cash, Class A common stock, or a mix of both. The company intends to use part of the proceeds for capped call transactions to mitigate potential equity dilution.
As of mid-August 2026, CoreWeave reported over $25 billion in new customer commitments. The company also expanded its contracted power capacity from 3.7 gigawatts to 4.2 gigawatts to support large-scale Nvidia GPU deployments. Despite these growth metrics, the company remains unprofitable.
The previous April 2026 offering featured a 1.75% interest rate. Those notes included a conversion price of approximately $119.60 per share, based on a ratio of 8.3612 shares per $1,000 in principal. A dilution cap for that issuance was established at $230.00 per share.
