CoreWeave's $2.3B debt binge funded Nvidia GPUs and Microsoft deal

The Information detailed how Blackstone debated a $2.3 billion loan to CoreWeave in early 2023 to buy Nvidia GPUs and secure a data center. The then-little-known firm, which had $16 million in annual revenue, had just landed a multiyear, multibillion-dollar cloud contract with Microsoft, though some Blackstone executives had doubts.

• CoreWeave sought $2.3 billion for Nvidia GPUs and a data center
• The company's annual revenue before the deal was $16 million
• A multibillion-dollar Microsoft cloud contract brought Blackstone back to the table
• Some Blackstone executives doubted the investment