Loans secured by AI chips

• Alpha Compute non-recourse B300 GPU loanAlpha Compute Corp., $31.9M non-recourse loan facility (binding term sheet)
• Broadcom AI XPV Platform initial tranche (Anthropic compute)Vehicle not named; Broadcom AI XPV Platform, $35B initial capital solution (tranches A1 and A2)
• CoreWeave DDTL 1.0CoreWeave Compute Acquisition Co. II, LLC (wholly owned subsidiary of CoreWeave, Inc.), $2.3B delayed draw term loan
• CoreWeave DDTL 2.0 / 2.1CoreWeave Compute Acquisition Co. IV, LLC (wholly owned subsidiary of CoreWeave, Inc.), $7.6B delayed draw term loan, plus $3.0B DDTL 2.1 tranche added Sept 2025
• CoreWeave DDTL 3.0CoreWeave Compute Acquisition Co. V, LLC and CoreWeave Compute Acquisition Co. VII, LLC (subsidiaries of CoreWeave, Inc.), $2.6B delayed draw term loan
• CoreWeave DDTL 4.0CoreWeave Compute Acquisition Co. VIII, LLC (indirect subsidiary of CoreWeave, Inc.), $8.5B delayed draw term loan
• CoreWeave DDTL 5.0CoreWeave Financing DDTL V, LLC (indirect subsidiary of CoreWeave, Inc.), $3.1B delayed draw term loan
• CoreWeave DDTL 5.5CoreWeave Financing DDTL V-V, LLC (indirect subsidiary of CoreWeave, Inc.), $2.6B delayed draw term loan
• CoreWeave OEM equipment financing arrangementsCoreWeave, Inc. and certain subsidiaries (recourse and non-recourse portions), $4.8B outstanding (Jun 30, 2026); $4.8B aggregate notional at Dec 31, 2025
• Crusoe $175M credit facility (Victory Park Capital)Crusoe (Crusoe Energy Systems LLC per fund filings), $175M
• Crusoe Upper90 GPU credit facilityCrusoe Energy Systems, LLC, $200M initial commitment (Oct 2023) and about $225M credit facility (Mar 2025)
• Crux AI TPU loan (reported)Crux AI (venture backed by Blackstone and Alphabet), $22B reported chip loan
• Duos Edge AI B300 GPU financing (USD.AI)Duos Edge AI - GPUaaS, LLC (bankruptcy-remote subsidiary of Duos Technologies Group, Inc.), $98.1M asset-based term financing
• Firmus US$10B GPU-backed facility (Blackstone, Coatue)Firmus Supercloud Pty Ltd (Firmus Technologies, Australia), US$10B debt financing facility
• Fluidstack GPU financing (Macquarie)Fluidstack, Not public
• GMI Cloud Taiwan AI Factory GPU loan (CTBC)GMI Cloud Phoenix (Taiwan unit of GMI Cloud); assets held in ring-fenced SPV Project Phoenix, NT$14.05bn (about US$438M) syndicated loan; GMI later cited a $445M CTBC credit facility
• IREN 24-month GPU lease financing (GB300)IREN Limited (subsidiary not named), About $96M lease financing
• IREN 36-month GPU lease financing (B200/B300)IREN Limited (subsidiary not named), $102M lease financing
• IREN Hardware 3 GPU Financing (Microsoft)IE US Hardware 3 LLC (wholly owned financing SPV of IREN Limited), $3.6B ($1.545B DDTL + $2.1B senior notes)
• IREN Mackenzie GPU financing (Blue Owl and PIMCO)IE Mackenzie Compute Ltd. (British Columbia), a wholly owned subsidiary of IREN Limited, About $2.4B ($1.2B loan + $1.2B notes)
• Lambda $1B fixed-rate DDTLLambda, Inc. (financing vehicle not named), $1.008B investment-grade delayed draw term loan
• Lambda $500M GPU-backed facility (Macquarie)Lambda (special purpose GPU financing vehicle), Up to $500M
• Lambda $926M term loan BLambda SPV (name not public), subsidiary of Lambda, Inc., $926M senior secured term loan B
• Mistral AI GB300 data center debtMistral AI, $830M debt financing
• Nebius $775M secured GPU facilityNebius Group N.V. (borrowing entity not named), $775M senior secured loan
• Nscale Dell Financial Services GPU leasesNscale group entities (guaranteed by Nscale Global Holdings Ltd), About $2.54B of initial-term rent across 40 payment schedules (as of Sept 4, 2026), including about $34.8M of financing charges
• Nscale GPU Financing FacilityNscale Services UK Ltd (subsidiary of Nscale Ltd), About $1.4B senior secured delayed draw term loan, plus up to $350M incremental
• Nscale Macquarie Iceland GPU FacilityNscale Services Iceland III EHF (subsidiary of Nscale Ltd), $331.9M senior term loan
• Nscale Macquarie Senior Facility (Glomfjord GPU cluster)Nscale Global Holdings Limited, $105.0M term loan and letter of credit facility
• Nscale North Carolina GPU FacilityNscale NC Borrower SPV, LLC (guarantor Nscale Services US Inc.; parent Nscale Limited), $1.2B delayed draw term loan
• Nscale Ward County GPU FacilityNscale Ward County Borrower SPV, LLC (guarantor Nscale Ward County, LLC; parent Nscale Limited), $1.85B delayed draw term loan
• PDN Intelligence B300 secured loan to Goodwill LabsGoodwill Labs Inc., $588,849 (one NVIDIA B300 eight-GPU system)
• Rumble / Northern Data loan from Tether (Taiga Cloud GPUs)Rumble Freedom First Holding Limited (Ireland), acquirer of Northern Data AG, Half of the outstanding balance of a €575M loan (exact amount not stated)
• Sharon AI US$356M GPU-backed SPV facilitySAI AU No. 1 Pty Ltd and SAI AU No. 3 Pty Ltd (indirect subsidiaries of SharonAI Holdings Inc.), Up to US$356M senior secured term loans (Facility A $150M; Facility B $206M)
• Sharon AI USD.AI GPU-backed facilitySharonAI Holdings Inc. and subsidiaries, Up to US$500M approved; US$65M of initial GPU deployments targeted
• Stonebriar SCF Equipment Leasing 2026-1 ABS (GPU loans in pool)SCF Equipment Leasing 2026-1 LLC and SCF Equipment Leasing Canada 2026-1 Limited Partnership (sponsor Stonebriar Commercial Finance LLC), About $869M ABS reported; initial aggregate discounted contract balance about $957.87M
• Together AI equipment financing (Trinity Capital)Together Computer, Inc. (Together AI), About $50.9M equipment financing ($49.4M Trinity Capital + $1.5M Eagle Point Trinity)
• USD.AI and BSQ Capital APAC GPU lending ventureAI compute operators in Asia-Pacific (none named), $300M initial allocation
• Valor / xAI equipment lease IIICTC (subsidiary of xAI, indirect subsidiary of Space Exploration Technologies Corp.) as lessee; Valor Equity Partners affiliate as lessor, $6.587B of lease payments over five years
• Valor Compute Infrastructure / xAI GB200 lease (Apollo)VCI Asset Holdings 1 LLC, a vehicle of Valor Compute Infrastructure L.P. (fund managed by Valor Equity Partners); lessee is CTC, a subsidiary of xAI (now part of Space Exploration Technologies Corp.), $3.5B loan inside a $5.4B GPU purchase-and-lease
• Wingspire Equipment Finance 2026-1 ABS (GPU loans in pool)Wingspire Equipment Finance 2026-1 LLC (sponsor Wingspire Equipment Finance LLC, part of Wingspire Capital, a portfolio company of Blue Owl Capital Corporation), $407.07M of notes in six classes
• Zankore $3.1B AI cloud term loan (Indonesia)Zankore, a joint venture of Indosat Ooredoo Hutchison, Nokia and Nvidia (founded August 2026), Up to $3.1B

Not investment advice. Figures come from public filings. Read the weekly brief