Tag: CoreWeave
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GPU-Backed Loans Went Investment-Grade. The Chips Still Depreciate
Key Takeaways CoreWeave closed the first investment-grade GPU-backed loan — $8.5B, rated A3 — in March 2026. GMI Cloud is now seeking its second such loan this year: $300M, for a Thailand site tied to Tencent. The collateral is the…
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Why AI Cloud Companies Lose Money Even at 66% Gross Margins
Key Takeaways Nvidia’s gross margin was 75.0% last quarter; management guided it to 72–73% next year, pointing to memory costs. CoreWeave rents Nvidia chips. Same season: a 66% gross margin, a $626 million net loss, $640 million of interest expense.…