CoreWeake seeks insurance funding for AI expansion, with chip financing already exceeding $35 billion

According to the UK's Financial Times, NVIDIA-backed AI cloud provider CoreWeave is seeking to tap into insurers' vast pools of capital to reduce its financing costs for purchasing AI chips and building infrastructure. Brandon McBride, CoreWeave's co-founder and head of financing, stated that if the company can secure investment-grade ratings for more of its chip-backed debt and ultimately improve its own credit rating, it will have the opportunity to enter the insurance capital market. He noted that the insurance industry's capital base is "almost infinite," because "all the money sitting in insurance capital pools represents one of the largest funding sources in the world."