10:41 AM EDT, 07/31/2025 (MT Newswires) -- CoreWeave ( CRWV ) said Thursday it closed a $2.6 billion delayed draw term loan facility to develop artificial intelligence cloud infrastructure for clients.

The company said it will use the funding to accelerate the purchase and maintenance of equipment, hardware, and cloud infrastructure to deliver services under an agreement with Microsoft ( MSFT ) -backed OpenAI.

The new facility, financed at a secured overnight financing rate of 4%, matures in August 2030, and is expected to enable the company to lower its cost of capital, according to a statement.