Analyzes GPU loan pricing, credit spreads, and debt structures for neoclouds; breaks down CoreWeave debt pricing and DSCR analysis for bank lending.
no scored calls yet — needs a stated position or a categorical verdict, with a matured window vs SPY
CoreWeave's secured debt with Meta offtake prices at 225bps over SOFR, decomposing into 97bps Meta credit risk and 105bps CoreWeave execution risk, while unsecured bonds trade 400bps wider reflecting subordination.