$50 million letter of credit from CoreWeave
Company: Applied Digital - Project: Polaris Forge 1
The claim, verbatim
Enhanced credit quality on CoreWeave leases through a restructured SPV subsidiary, unconditional springing guarantees, and a $50 million letter of credit.
Source (primary)
Earnings Release (IR page (ir.applieddigital.com), earnings_call)
View cached copy (2026-09-01)Live source ↗Archive.org ↗
Quote: “Enhanced credit quality on existing CoreWeave leases through a restructured SPV subsidiary, unconditional springing guarantees from CoreWeave, Inc., and a $50 million letter of credit.”
How we checked this
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Additional evidence
confirms Earnings Release
Quote: “Enhanced credit quality on existing CoreWeave leases through a restructured SPV subsidiary, unconditional springing guarantees from CoreWeave, Inc., and a $50 million letter of credit.”