8-KMaterial AgreementsFinancial EventsRegulation FD+1

CoreWeave, Inc. 8-K Report, Material Agreement (May 18, 2026)

Filed May 18, 2026For Securities:CRWV

Summary

CoreWeave, Inc. (CRWV) announced a significant financing event through its indirect subsidiary, CoreWeave Financing DDTL V, LLC. The company has secured a $3.1 billion delayed draw term loan facility (DDTL 5.0 Facility) to fund critical capital expenditures, primarily for acquiring GPU servers and related infrastructure necessary to fulfill customer contracts. This substantial debt issuance underscores CoreWeave's aggressive growth strategy and its commitment to scaling its AI and cloud infrastructure capabilities to meet increasing market demand. The facility, with a maturity date of November 15, 2031, is backed by a parent guarantee from CoreWeave, Inc. and secured by substantially all assets of the borrower and its subsidiaries. While the loan offers flexibility with a draw period extending until September 2026, it also comes with financial covenants, including a minimum debt service coverage ratio of 1.35x to be maintained from late 2026. The interest rates are tied to SOFR or base rates, with applicable margins and a commitment fee on undrawn amounts, reflecting the current market conditions for leveraged financing.

Key Highlights

  • 1CoreWeave secured a $3.1 billion delayed draw term loan facility (DDTL 5.0 Facility) through its subsidiary.
  • 2The funds will primarily finance capital expenditures for GPU servers and infrastructure to support customer contracts.
  • 3The facility has a maturity date of November 15, 2031, with a draw period extending until September 2026.
  • 4The loan is guaranteed by CoreWeave, Inc. and secured by the borrower's and its subsidiaries' assets.
  • 5Key financial covenants include a minimum debt service coverage ratio of 1.35x, commencing in late 2026.
  • 6Interest rates are variable, based on SOFR (plus 4.50% margin) or Base Rate (plus 3.50% margin), with a 0.00% floor.
  • 7A commitment fee of 0.50% per annum is payable on the average daily undrawn portion of the facility.

Frequently Asked Questions

The primary purpose of the DDTL 5.0 Facility is to finance capital expenditures, specifically the acquisition of GPU servers and related infrastructure, which are essential for CoreWeave to fulfill its contractual obligations to customers.

The DDTL 5.0 Facility matures on November 15, 2031. Loans can be drawn until September 2026. The borrower must maintain a debt service coverage ratio of at least 1.35x starting in late 2026. Interest rates are variable, linked to SOFR or Base Rate, with applicable margins, and an undrawn commitment fee of 0.50% per annum applies.

The obligations under the DDTL 5.0 Facility are unconditionally guaranteed by CoreWeave, Inc. (the Parent) through a parent guarantee and pledge agreement. Additionally, the obligations are secured by substantially all assets of the borrower and its subsidiaries, as well as a pledge of 100% of the equity interests in the borrower held by a specific holding company.

This substantial debt financing of $3.1 billion indicates CoreWeave's aggressive expansion plans to scale its AI and cloud computing infrastructure. It provides the necessary capital to acquire significant hardware assets, enabling the company to meet growing customer demand and strengthen its market position.