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# CoreWeave $2.6bn DDTL: the amber worked example on the uncontracted-principal veto
- URL: https://adikumar.co/case-study-coreweave-ddtl-amber-worked-example/
- Published: 2026-08-23T11:18:58.000Z
- Updated: 2026-09-18T10:18:49.000Z
- Description: The wired-recourse mechanic in market-tested form. High uncontracted principal at maturity, but CoreWeave's parent guarantee absorbs at Ba2/BB+ corporate credit. AMBER on the framework's 2x2, not RED. The distinction most credit coverage misses.
- Author: Adi Kumar
- Tags: Case Studies, ai-infrastructure, framework, framework-calibration

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