Latham & Watkins Advises on CoreWeave’s Landmark US$3.1 Billion Delayed Draw Term Loan Facility

CoreWeave, Inc. (Nasdaq: CRWV), The Essential Cloud for AI™, has announced it has closed its US$3.1 billion delayed draw term loan facility (DDTL 5.0 Facility), supporting continued expansion of its AI cloud platform and committed customer deployments. The DDTL 5.0 Facility marks the first publicly syndicated HPC infrastructure‑backed financing vehicle, significantly expanding the addressable investor base for AI infrastructure financing and enabling secondary market trading. The facility received ratings of Ba2 from Moody’s and BB+ from Fitch, further validating the growing institutional maturity of the AI infrastructure financing market as an emerging asset class. Morgan Stanley and Mitsubishi UFJ Financial Group served as joint lead arrangers and bookrunners for the transaction.

The DDTL 5.0 Facility builds on CoreWeave’s continued capital markets momentum and follows the company’s previously announced US$8.5 billion investment‑grade rated DDTL 4.0 facility completed earlier this year. With the closing of this latest transaction, CoreWeave has secured more than US$20 billion of debt and equity capital year to date to support continued expansion of its AI cloud platform.

Latham & Watkins LLP represented Morgan Stanley and MUFG in connection with the financing with a team led by partner Chirag Dedania and associate Jesse Van Genugten, and partners Paul Bonewitz, Keith Halverstam, Sal Vanchieri, Jason Bosworth, and Josh Holt, with associates Pad Rosand and Miles Primason and assistance from Grigorios Pappas. Advice was also provided on intellectual property matters by partner Morgan Brubaker, with associate Azam Chaudry; and on real estate matters by partner Mike Rechtin and counsel Tori Campbell, with associates Vasi Mitrakos and Brandon Hemans.