Compute / the Ledger · 2 deals
Who is paying whom for compute.
Every deal dated, typed in plain words, and linked to the document it comes from.
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Deals with Morgan Stanley as a party. Morgan Stanley’s page · Show every party
| Announced | Deal | Parties | Type | Value | Terms | Source |
|---|---|---|---|---|---|---|
| 27 Aug 2026 | Lambda closes a $926M senior secured term loan B at SOFR + 3.00%, secured by GPU servers for one investment-grade offtakerSignedFirst priced August 12, 2026; closed August 27, 2026. Priced at SOFR + 3.00%, issued at 99.5% of principal. Matures December 31, 2030, fully amortizing. Moody's rating Baa2. Funds GPU infrastructure for a committed customer deployment with an investment-grade offtaker, through a GPU asset-backed SPV. Secured by the GPU servers and related infrastructure and the cash flows they generate. Morgan Stanley was lead left arranger, bookrunner and administrative agent; MUFG joint bookrunner. |
| Loan against chips | $926M | Lambda press release, 2026-08-27Company press release | |
| 31 Mar 2026 | CoreWeave closes $8.5B DDTL 4.0, rated A3/A (low), to finance GPU servers for a customer contractSignedBorrower CoreWeave Compute Acquisition Co. VIII; non-recourse to the parent except for 'bad acts'. Floating tranche SOFR + 2.25%; fixed tranche at 2.00% over a blended Treasury rate; 0.50% undrawn fee; draws until June 2027; matures 2032-03-31. Moody's A3 and DBRS A (low): described by CoreWeave as the first investment-grade financing secured by HPC infrastructure and a customer contract. Arrangers MUFG and Morgan Stanley. |
| Loan against chips | $8.5BUp to ~$7.5B borrowable initially, rising to $8.5B as underlying assets stabilize. | CoreWeave 8-K, 2026-03-31Regulatory filing |
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