CoreWeave’s conditional borrowing capacity

v1 | 2026-03-31 | Sources checked: 2026-10-23

DDTL 4.0, borrower CoreWeave Compute Acquisition Co. VIII, LLC. Announced borrowing capacities, in USD millions.

Calculation from published rounded amounts: 8,500 − 7,500 = approximately USD1,000 million of additional capacity. The two ceilings apply to different phases of one facility and must not be added together.

The announcement makes the increase conditional on asset stabilisation. The presentation describes lending at 90% of cost during installation, then a debt service coverage ratio of 1.2 times after customer acceptance, site by site. Both bars start at zero and use the same scale.

Borrower disclosures at announcement. The chart does not measure drawdowns, cash received or an increase achieved by 23 October. It neither values GPUs nor reconstructs the full credit agreement.

CoreWeave, closing announcement filed with the SEC (2026-03-31). Paragraphs on initial capacity and asset stabilisation. https://www.sec.gov/Archives/edgar/data/1769628/000176962826000129/ex991.htm

CoreWeave, DDTL 4.0 presentation (2026-03). Pages 4 and 5: terms and debt sizing. https://s205.q4cdn.com/133937190/files/doc_presentations/2026/Mar/2026-03-DDTL-4-Overview.pdf

Investigation: https://l0g.fr/en/analysis/collateral-that-cannot-leave-the-building/

Original l0g figure and calculations: CC BY 4.0. Credit l0g and the sources, retain dates and limits, and identify adaptations. Third-party publications and data retain their own rights; l0g grants no new licence over them. No market quotations or licensed price database are redistributed.

Olivier Laurelli / l0g.fr, “CoreWeave’s conditional borrowing capacity”, data dated 2026-03-31, sources checked 2026-10-23, v1. https://l0g.fr/en/press-resources/#coreweave-ddtl4-2026-03-31. Original figure and calculations : CC BY 4.0.