US Stocks Move | CoreWeave rises over 4%, plans to raise about $8.5 billions to support expansion of AI computing infrastructure

Glonghui, February 25th｜Cloud computing infrastructure company CoreWeave (CRWV.US) rose over 4%, trading at $103.28. According to sources, CoreWeave plans to raise about $8.5 billions from multiple banks to support its expansion of cloud computing and computing power infrastructure for Meta Platforms. The main institutions participating in this financing include Morgan Stanley and Mitsubishi UFJ Financial Group. Although CoreWeave is still at a speculative level in terms of credit rating, sources said that since Meta has a "blue-chip" credit qualification, this loan is expected to obtain an investment-grade rating, which would significantly lower financing costs.