As an AI cloud service provider invested by Nvidia, CoreWeave is seeking the insurance industry's huge capital pool to find lower cost financing channels to support its tens of billions of dollars in chip and AI infrastructure. Under the current AI boom, data center construction and procurement of Nvidia AI chips increasingly rely on debt financing, and life insurance companies that manage trillions of dollars in assets have become the primary target for borrowers to obtain low-cost capital. Branning McBee, co-founder of CoreWeave and head of financing, said that the company plans to allow more debt based on chip assets, and even the company itself to obtain investment-grade credit ratings, so as to borrow money from insurance institutions. The insurance industry's capital “is almost limitless, which is equivalent to pooling massive global capital in the insurance fund pool.” Next, Coreweave hopes to push insurance funds to buy loans backed by orders from low-rated customers like AI Labs. “Currently, our offtake orders from non-investment-level customers are not yet within the scope of investment targets of insurance funds, but they are expected to be realized in the future.” He added that the leading AI lab is about to launch an IPO, which will help this process.

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