CoreWeave Inc. has raised $8.5 billion from banks and investors to fund expansion of its cloud computing infrastructure, marking the largest chip-backed debt deal in history. The financing, structured as a loan secured by Nvidia GPU assets, enables the company to scale its data center footprint and compete with hyperscalers like Amazon and Microsoft. The deal includes a strategic partnership with Meta, which has committed to leasing CoreWeave’s GPU-powered cloud capacity for AI workloads.

This move positions CoreWeave as a critical player in the AI infrastructure market, leveraging specialized hardware to meet surging demand for large-scale machine learning capabilities.