Tag: data centers
-
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…
-
Big Tech’s $1.09 Trillion in Data-Center Leases Sits Off the Balance Sheet
Key Takeaways Five hyperscalers have signed ~$1.09 trillion in data-center leases not yet started. That is ~4x the $285 billion of lease debt already on their books. A lease is not booked as debt until the building is ready to…
-
Why AI Inference Costs Keep Rising While the Price Per Token Falls
AI inference costs keep rising because token use, reasoning work, and demand can grow faster than price per token falls. Compare unit price with cost per task.
-
Microsoft AI Returns Face a Hardware Refresh Test
Microsoft AI returns are no longer just a promise attached to a spending plan. Microsoft’s fiscal 2026 fourth-quarter figures give us unusually concrete evidence of demand: Azure’s annual revenue passed $100 billion, while Microsoft 365 Copilot exceeded 30 million paid…
-
Nvidia OpenAI Backstop: Who Actually Carries the Risk?
Nvidia doesn’t usually show up on the financing side of a data center deal. This time it reportedly might be the thing holding the whole structure up, and that’s a different role than the one it’s used to playing.
-
Meta May Rent Its AI Data Centers to Rival Anthropic
I find it striking that Meta, a company that has poured tens of billions into building its own AI infrastructure, might end up renting that capacity to a direct competitor.