🇺🇸Corvex’s loan pledges subsidiary assets, including its customer contract; an operating subsidiary provides a limited guarantee, without parent-company recourse.

The disclosed collateral package covers the borrowing subsidiary’s assets, expressly including the related customer contract. The financing therefore includes contractual assets as collateral, rather than being described solely as a pledge of GPU hardware.

Corvex’s operating subsidiary supplies a limited guarantee, while the loan is non-recourse to Corvex, Inc., the parent company. The excerpt does not specify the guarantee’s cap, triggering conditions, interest rate, maturity, or repayment schedule.

Separately, the filed release provides a capital-structure update as of November 10, 2026. Corvex had approximately 39.1 million common shares and 21,800 Series D preferred shares outstanding, with the preferred shares convertible into approximately 21.8 million common shares, producing approximately 60.9 million common shares on an as-converted basis.

That preferred-stock conversion exposure is a separately disclosed capital-structure fact; the excerpt does not identify it as consideration for the USD.AI loan. The release also lists financing, equipment procurement, commissioning, customer acceptance, and contractual termination rights among risks affecting anticipated infrastructure revenue.