CoreWeave plans $3.0 billion convertible notes offering due 2033
The company will also let initial purchasers buy up to $500 million more and has set up a separate plan to sell up to 35 million shares over time
Published · Updated
Chart: CRWV, one-minute prices, three sessions
UpdateThursday, September 17, 2026 at 7:50 AM ET
CoreWeave shares fell in pre-market trading on Thursday, dropping as much as 1.4% after the notes offering was announced.
CoreWeave plans to offer $3.0 billion in convertible senior notes due 2033 in a private placement to qualified institutional buyers. Initial purchasers will have the option to buy up to $500 million more of the notes.
CoreWeave plans to enter into capped call transactions tied to the pricing of the notes. Part of the proceeds will fund those transactions, with the rest going toward general corporate purposes.
Separately, CoreWeave entered into an equity distribution agreement on September 17, 2026 that allows it to sell up to 35,000,000 shares of Class A common stock over time, including through collared forward sale agreements. Sales under that program will not begin until at least 30 days after the notes purchase agreement is signed.
The two offerings together mark another round of heavy capital raising as CoreWeave scales its AI infrastructure business. The financing follows recent deals with Hudson River Trading and gives the company funds to keep expanding, but raising both debt and equity at once points to execution risk that markets have already priced into the stock's recent moves. Without new customer commitments or clearer margins, the raise looks like a funding mechanism rather than a sign of new growth.