CoreWeave, an AI cloud infrastructure company, issued $3.7 billion in convertible senior notes on September 18, 2026, with the potential to reach $4.2 billion if the greenshoe option is fully exercised. These notes, carrying a 2.875% coupon and maturing in 2033, represent significantly cheaper financing than the company’s existing senior debt, which carries rates between 8.5% and 9.75%. CoreWeave allocated approximately $498.8 million for capped call transactions designed to reduce shareholder dilution upon conversion. The company’s contracted power capacity reached approximately 4.2 gigawatts as of August 2026, providing revenue visibility that exceeds that of most growth-stage technology companies.
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