CoreWeave is continuing to expand its AI cloud infrastructure with heavy borrowing, including distressed bonds and insurance-linked capital, against a debt load of US$50 billion. It is also adding 240 MW of high-density capacity in India with AdaniConneX, using NVIDIA Vera Rubin hardware, across three 80 MW buildings where CoreWeave is the sole tenant and has an option to double capacity. The article argues that rising funding costs, record credit default swap pricing, and risks such as power delivery delays or slower customer ramp-ups could keep backlog contracts from turning into cash. The model depends on lenders continuing to refinance, especially through mid 2028, when tighter credit conditions could affect how quickly the India build converts into revenue.
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