CoreWeave Prices $3.7B Convertible Bond, Lifting Tracked Capital to $32.4B

CoreWeave has priced a $3.7 billion convertible bond, the AI cloud provider's 12th tracked fundraise since November 2021 and the first convertible note in its recorded funding history.

The deal, dated September 22, 2026, lifts CoreWeave's cumulative disclosed capital to $32.4 billion, according to the tracker's tally. Investors in the convertible bond were not disclosed.

CoreWeave builds and operates a high-performance AI cloud platform that supplies compute and infrastructure for organizations running large-scale machine-learning workloads. The company targets enterprises and teams needing scalable cloud capacity to train, fine-tune and deploy models at production scale. It is headquartered in San Francisco.

The convertible bond lands in a year already crowded with capital formation for the company. In April 2026, CoreWeave landed $8.5 billion from Wall Street banks, with Morgan Stanley, Mitsubishi UFJ Financial Group, Goldman Sachs, JPMorgan and Blackstone Credit & Insurance all listed as leads, to scale its AI cloud. Weeks later, on April 16, it secured a $6 billion cloud deal alongside $1 billion in equity from Jane Street, a transaction that pushed cumulative capital to $28.7 billion at the time.

The company's public-market record dates to March 28, 2025, when it raised $1.5 billion in proceeds in its initial public offering by selling shares on Nasdaq. Before listing, CoreWeave assembled a stack of debt and equity: a $7.5 billion debt financing facility led by Blackstone in May 2024 to scale data centers and GPU infrastructure; a $1.1 billion Series C led by Coatue Management; and a $650 million secondary in November 2024 led by Jane Street, Magnetar Capital, Fidelity Management & Research Company and Macquarie Capital.

Earlier rounds included a $642 million minority investment led by Fidelity in December 2023, a $2.3 billion debt facility in August 2023 led by Magnetar Capital and Blackstone, a $200 million Series B extension and a $221 million Series B in 2023, both led by Magnetar, and a $50 million Series A in November 2021, also led by Magnetar.

The tracker lists CoreWeave's last valuation at $56.7 billion, tied to an April 2026 growth round, though it flags that figure as unverified with no source on file. The company's disclosed investors include Coatue Management, Jane Street, Magnetar Capital, Fidelity Management & Research Company, Blackstone, Goldman Sachs, Morgan Stanley, Mitsubishi UFJ Financial Group, JPMorgan, Blackstone Credit & Insurance and Macquarie Capital.