CoreWeave, a US-based cloud provider for AI computing, said it launched a US$3 billion convertible bond offering due in 2033.

It also set up an at-the-market program that lets it sell up to 35 million shares over time.

The company said proceeds from the bond sale could rise by another US$500 million if the option to upsize is exercised.

The money will go toward general corporate purposes, with part reserved for derivative agreements tied to the transaction.

CoreWeave had to offer better pricing on a US$2.6 billion leveraged loan in July after heavy fundraising for AI infrastructure showed signs of straining investor appetite.

The notes may carry a coupon of 2.375% to 2.875%, according to people familiar with the matter.

The offering was expected to be priced later on Thursday.

🔗 Source: Bloomberg

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