CoreWeave, a data center operator based in New Jersey, is reportedly pursuing a $1.5 billion debt deal following a disappointing IPO launch earlier this year. The company, which raised $12.9 billion in debt over two years for its data center expansions, is attempting to engage investor interest through meetings with JPMorgan. CoreWeave had initially aimed to raise $2.7 billion but reduced this figure due to growing apprehension about its significant debt load and the declining market for AI infrastructure, posing challenges for future financial stability.
CoreWeave's executives intend to use the meetings to gauge investor interest in a new debt deal after a lackluster IPO and concerns over its financial health.
The company was forced to slash its initial IPO target from $2.7 billion to $1.5 billion due to worries about its large debt burden affecting market interest.
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