Key Points
Aug 3 (Reuters) - Specialized cloud provider CoreWeave has raised $2.3 billion in a debt facility led by Magnetar Capital and Blackstone (BX.N) and collateralized by Nvidia chips, with the funds to be used to expand to meet rising AI workload, the company said on Thursday...
Other lenders in the facility include Coatue and DigitalBridge (DBRG.N), as well as BlackRock, PIMCO, and Carlyle (CG.O)..
The outsized loan also marks the growing market in private asset-based financing, as private equity firms turn to lower risk lending secured by hard assets and take on more corporate debt when banks slow down...
The company has unique access to the most advanced Nvidia chips that are in short supply, giving it an edge in competition with traditional cloud providers like Microsoft (MSFT.O),.
CoreWeave also raised $421 million in equity this year led by Magnetar Capital at a valuation of over $2 billion...
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