For this startup, Nvidia GPUs are currency

Gather around, children. We are about to discuss some financial innovation: using computer chips as collateral for loans.

CoreWeave, a cloud computing startup backed by Nvidia and Magnetar Capital, has secured a $2.3 billion debt facility using Nvidia’s sought-after H100 GPUs as collateral. The company intends to use that money to purchase more high-end chips, among other things.

If your head hurts, …

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