Applied Digital Corporation Completes $1.59 Billion AI Debt Financing

Artificial intelligence data center developer Applied Digital successfully priced a $1.59 billion senior secured note offering this week through its subsidiary APLD ComputeCo 3 LLC. The note carries a coupon rate of 7.000%, matures in 2031, and was issued at 100% of par value. This financing cost marks a significant drop from the 10% yield on an earlier tranche of the same project in November 2025, reflecting a recovering confidence in the credit market for CoreWeave-related data center debt. (Sina Finance)