This week, artificial intelligence data center developer Applied Digital successfully priced a US$1.59 billion senior secured note through its subsidiary, APLD ComputeCo 3 LLC. The note carries a coupon rate of 7%, matures in 2031, and was issued at par. Compared to the 10% yield on the earlier tranche of the same project in November 2025, the financing cost has significantly decreased, indicating increased confidence in the credit market for CoreWeave-related data center debt.
