CoreWeave Sees Investment-Grade Chip Debt Expanding Insurer Access

CoreWeave is looking to investment-grade ratings on more chip-backed debt to attract insurer capital, building on a rated facility that had $2.9 billion drawn by June 30. Brannin McBee, CoreWeave’s co-founder and chief development officer, said broader ratings coverage, and eventually an investment-grade rating for CoreWeave itself, could help insurers play a larger role in financing. The effort continues the company’s push to bring insurers into AI infrastructure financing . CoreWeave closed an $8.5 billion delayed-draw facility in March. The structure lets the company borrow in stages as qualifying assets and project conditions allow. The facility is secured by computing infrastructure and a customer contract, and carries ratings of A3 from Moody’s and A (low) from DBRS. Insurance investors participated, though their commitments were not disclosed.

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