ELN-02 Letter of Credit commitment
Company: Applied Digital - Project: Polaris Forge 1
What the later record shows
Delivered on time
The April 8, 2026 earnings release reports CoreWeave, Inc. posting a $50 million letter of credit securing the ELN-02 lease. That is before the April 29, 2026 deadline, though the exact posting date is not given.
“CoreWeave, Inc. posting a $50 million letter of credit securing the ELN-02 lease.”
2026-04-08 · Earnings Release View cached copy (2026-10-08)Live source ↗Archive.org ↗
“unconditional springing guarantees from CoreWeave, Inc., and a $50 million letter of credit.”
2026-07-27 · View PDF View cached copy (2026-09-01)Live source ↗
Checked October 9, 2026 against filings, releases and reporting published after the claim was made. Quotes are verbatim from the linked documents.
The claim, verbatim
CoreWeave Parent is obligated to provide a $50 million letter of credit within 30 days to secure ELN-02 Parent Lease obligations
Source (primary)
Applied Digital 8-K/A filed 2026-04-01 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “CoreWeave Parent is obligated to provide a letter of credit in the amount of $50,000,000 to secure obligations under the ELN-02 Parent Lease within 30 days”
How we checked this
Checked on October 10, 2026. The cited source supports every part of this claim.
Applied Digital's March 30, 2026 Form 8-K/A states directly that CoreWeave Parent must provide a $50 million letter of credit within 30 days to secure obligations under the ELN-02 Parent Lease.
Confirmed in the source:
- CoreWeave Parent is obligated to provide a letter of credit
- The letter of credit amount is $50,000,000 ($50 million)
- The letter of credit is to be provided within 30 days
- The letter of credit secures obligations under the ELN-02 Parent Lease
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1144879/000149315226014498/form8-ka.htm) in full (11,503 characters, retrieved August 31, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Applied Digital 8-K/A filed 2026-04-01
Quote: “CoreWeave Parent is obligated to provide a letter of credit in the amount of $50,000,000 to secure obligations under the ELN-02 Parent Lease within 30 days”
confirms View PDF
Quote: “unconditional springing guarantees from CoreWeave, Inc., and a $50 million letter of credit.”
confirms Earnings Release
Quote: “CoreWeave, Inc. posting a $50 million letter of credit securing the ELN-02 lease.”