CoreWeave stock jumps 9% after company secures $8.5 billion GPU-backed loan

CoreWeave (CRWV) stock jumped as much as 9% on Tuesday after the Nvidia-backed (NVDA) company secured $8.5 billion in financing to expand its artificial intelligence cloud platform. The loan is the first of its kind, CoreWeave said, as it achieved investment-grade ratings from Moody's and DBRS for financing backed by artificial intelligence hardware such as Nvidia graphics processing units (GPUs). CoreWeave said the facility is designed to enhance access to low-cost capital, helping it meet customer deman ...