CoreWeave, an artificial intelligence (AI) infrastructure company, announced on December 8 that it aims to raise $2 billion through a private sale of convertible senior notes, which will mature in 2031.
According to the company’s press release, buyers of these notes have also been granted an option to purchase up to an additional $300 million in such notes.
Funds collected from this initiative are planned for use in general business purposes and for executing capped-call transactions.
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The company explained that these transactions are designed to help reduce the potential impact on shareholders if the notes are later converted into equity.
Previously operating as Atlantic Crypto in 2017, CoreWeave concentrated on GPU mining for Ethereum
Today, CoreWeave manages more than 33 data centers that primarily serve AI applications.
An effort by CoreWeave to purchase Core Scientific in a proposed deal valued close to $9 billion was recently declined by Core Scientific’s shareholders.
This bid, which lasted over a year and began in June 2024, would have given CoreWeave access to about 1.3 gigawatts of electricity capacity for its future growth plans.
Bitfury, known for its Bitcoin mining company, recently announced its plans to shift its focus to become an investment firm. What did the company say? Read the full story.
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