Nvidia -backed CoreWeave said on Thursday it plans to raise $3 billion through a convertible debt offering, highlighting the massive funding needs to support the AI infrastructure buildout. Shares of the neocloud were down more than 2% in premarket trading. Through the last close, they have gained over 16% so far this year. Initial buyers of the debt may purchase up to an additional $500 million. CoreWeave said it would use some of the money to protect against dilution and the rest would fund its operations. It also launched an at-the-market stock sale program for up to 35 million shares, potentially raising about $2.92 billion at Wednesday's closing price, though it will determine whether to sell shares based on market conditions.
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