CoreWeave borrowing costs drop from 10% to 7% in six months

This article was published on June 11, 2026 Applied Digital raised $1.59 billion in junk bonds for a CoreWeave data centre in North Dakota. Six months ago, the same project demanded a 10% yield. Michael Intrator, Co-founder, CEO, Chairman of CoreWeave TL;DRApplied Digital raised $1.59 billion in junk bonds at 7% yield for a CoreWeave data centre, down from 10% six months ago. CoreWeave’s credit default swap spreads fell 49% from their December peak. Applied Digital raised $1.59 billion in junk bonds at 7% yield for a CoreWeave data centre, down from 10% six months ago. CoreWeave’s credit default swap spreads fell 49% from their December peak. An Applied Digital subsidiary raised $1.59 billion in the high-yield bond market on Tuesday to fund a fourth building at its Polaris Forge 1 campus in North Dakota, which will provide 150 megawatts of computing capacity for CoreWeave under a 15-year contract. The bonds were priced to yield 7%, a steep drop from the 10% investors demanded for an earlier portion of the same project in November. The offering attracted five times its size in demand. The cost of protecting CoreWeave’s debt against default for five years fell to as low as 4.52 perce