CoreWeave (CRWV) is attempting to secure roughly 8.5B in loans from investment banks that would be backed by its deal with Meta Platforms (META), Bloomberg reported.
The cloud computing company is trying to secure the financing from a consortium of banks, including Morgan Stanley (MS) and Mitsubishi UFJ Financial Group (MUFG), the news outlet added, citing people familiar with the matter.
It would use its $14.2B deal with Meta and another one that is valued at more than $5B as backing for the loan. The loan is expected to close in March, the news outlet added.
CoreWeave, Morgan Stanley, Meta and Mitsubishi UFJ did not immediately respond to a request for comment from Seeking Alpha.
