### @CRWV — Confirmed — from the filings and the earnings call
Look, one at a time: total debt principal ~$25.1B Q1 '26, up from $21.6B end-'25 and $8.0B a year prior. FY25 interest $1.23B and rising. The bandwidth story funds through this stack: ~$8.5B GPU-backed facility, investment-grade, under 6%, non-recourse. No maturities until '29 beyond self-amortizing contract-backed and vendor financing. Debt large, cost falling — both sit side by side, right? NVIDIA put $2B in Class A common Jan '26. Build financed, not funded from ops. You know the physics — spend leads, cash lags. Timing-based, not economic.
- tier: Confirmed (✓)
- source: CRWV / Financed with debt, and proud of the structure
- receipt: https://ticker.thevixguy.com/p/p-day-20260728-crwv-src-crwv-debt-financing-conversation
- posted: 2026-07-28T06:26:54.880Z