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(Bloomberg) — After a heavily scaled down initial public offering, CoreWeave Inc (CRWV). is in discussions to raise about $1.5 billion in debt, according to a person with knowledge of the matter.
The potential offering for the Nvidia Corp.-backed cloud-computing provider is expected to be in high-yield bonds and led by JPMorgan Chase & Co., according to a different person.
CoreWeave declined to comment.
The Financial Times first reported the offering.
Livingston, New Jersey-based CoreWeave had initially been targeting a highly-anticipated $4 billion IPO. But the company raised just $1.5 billion in late March as the lead up to President Donald Trump’s April 2 tariff announcements drove wild swings in the stock market, denting investors’ appetite for riskier assets.
Junk-debt markets are slowly reopening after April’s volatility briefly froze the market. JPMorgan is also leading $6.5 billion in financing to support private equity firm 3G Capital’s purchase of footwear maker Skechers.
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