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How a Blackstone-led $2.3B private credit loan
How a Blackstone-led $2.3B private credit loan to CoreWeave in 2023 became a blueprint for chip-backed debt, which is on track to become a $1T market
TL;DRBlackstone lent CoreWeave $2.3B backed by AI chips, creating a debt model now scaling to $1T.
Why it matters: Asset-backed lending on GPUs/chips is reshaping how AI infrastructure gets financed, beyond traditional venture capital.
“What is a GPU?” Blackstone Inc. executives asked CoreWeave Inc.'s leadership. Also: “Is AI real?” — These were entirely logical queries …
Read full articleSource: Bloomberg · Opens in new tab