News linked to both this project and an event.
Odaily reports: Bitcoin mining company IREN has announced the completion of a $363 million financing facility arranged by Wingspire Equipment Finance, secured by AI computing equipment that is already operational and generating revenue, to refinance recently purchased GPU servers and networking equipment. The facility was provided by six lenders, with Eldridge Capital Management and Silver Point Capital making major funding commitments. The financing is primarily secured by the relevant equipment and supported by multi-year customer contracts, with specific interest rates and terms not yet disclosed.This refinancing will help IREN recover capital already invested in operational infrastructure for further expansion. IREN is transitioning from Bitcoin mining to AI cloud services. Its AI cloud business revenue for the fiscal year ending June 30, 2026, reached $128.8 million, up from $16.4 million in the previous fiscal year; Bitcoin mining revenue still reached $578.2 million. The company reported a net loss of $702.6 million for the same period, including $638.8 million in non-cash asset impairments primarily related to retired Bitcoin mining machines. (theenergymag)
According to Investing.com, NASDAQ-listed IREN Limited (IREN) has completed a $363 million equipment financing deal with Wingspire Equipment Finance to refinance GPU servers and networking systems deployed in data centers.
Ibis is responsible for originating, tokenizing, managing risk, and servicing structured credit financing, initially focusing on crypto and prediction markets, with future plans to expand into emerging sectors such as GPUs, robotics, and venture capital.
Luxor Technology, a full-stack hashrate services provider, has completed a $16 million strategic funding round led by CMT Digital, with participation from Canaan, MicroBT, Halo, Steelhead, and several angel investors. Luxor plans to use the funds to expand its agent cloud platform, AI hardware business, and hashrate derivatives trading capabilities, as well as to grow its team. The company originally served Bitcoin mining companies and is now expanding into GPU and AI server procurement, targeting opportunities arising from the convergence of the Bitcoin mining and AI compute markets. (Cointelegraph)
According to TechCrunch, NVIDIA participated in the $14 million Series B financing round for Indian startup Simplismart, which was led by Dallas Venture Capital with participation from Accel, Shastra VC, and Micromax. The transaction values the four-year-old company at approximately $100 million, including the new investment. Simplismart states that its software sits between AI models and compute infrastructure, automatically adjusting model deployment and management to optimize response time, request throughput, and compute utilization, enabling customers to better leverage their existing GPU resources. The company noted that its software helped AI video generation platform InVideo reduce GPU service costs by 56%. Simplismart CEO Amritanshu Jain told TechCrunch that the company’s annualized revenue run rate grew 14 times over the past six months to reach an eight-figure amount. This figure is based on recent customer usage rather than contractual recurring revenue, and excludes revenue passed through to infrastructure providers. Although the company serves more customers in India, the United States accounts for more than half of its total revenue.
According to Yonhap News Agency, NAVER announced on October 27 that it has signed a computing infrastructure contract worth approximately $9 billion (around 12 trillion Korean won) with global asset manager Brookfield, satisfying the prerequisites for NVIDIA's strategic investment. The process for NVIDIA to subscribe to $1 billion (approximately 1.3 trillion won) in new shares through a third-party placement is expected to be completed in the near term, upon which it will become NAVER's third-largest shareholder. This contract is part of the $10 billion global AI factory project announced by the three parties in July. Under their agreed division of labor, NAVER will oversee operations, NVIDIA will provide technical collaboration for next-generation high-performance computing platforms such as the DSX, and Brookfield will handle infrastructure financing. As a result, NAVER will not need to directly bear the substantial capital expenditures associated with data center construction and GPU procurement, allowing it to focus on AI infrastructure operations and customer acquisition.
According to Yonhap News Agency, Rick Reed, Global Fixed Income Chief Investment Officer at BlackRock, the world's largest asset manager, stated that the recent scale of debt financing for AI infrastructure expansion is unprecedented, with related bonds offering greater appeal than US long-term Treasuries. In an interview with Bloomberg TV on Oct. 27, Reed noted that the magnitude of financing in bond and equity markets is unprecedented, describing the current environment as the most attractive investment period he has experienced. He highlighted a focus on high-quality bonds issued to finance GPUs, data centers, and other AI infrastructure, adding that the massive scale of new corporate issuance has made interest rate conditions superior to past years. He pointed out that while the US 10-year Treasury yield has exceeded 5%, it has been sidelined by other market instruments, with Treasuries increasingly viewed merely as a "market barometer" for equities. Investors can secure yields of roughly 7% by purchasing short-duration, single-A bonds, effectively avoiding the duration risk associated with long-dated Treasuries. He also expressed a preference for secured bonds issued by creditworthy corporates or cash-flow-generating assets, while maintaining that valuations in the semiconductor and computing sectors remain reasonably priced. Hyperscale data center operators are currently issuing the largest volume of corporate debt in history, raising hundreds of billions of dollars and absorbing capital that would otherwise flow into government bonds, thereby becoming one of the primary drivers pushing up US Treasury yields. Globally, AI-related high-quality financing has already surpassed $300 billion this year, roughly triple the total for all of last year.
According to Yonhap News Agency, Section Chief Kim Yun-kyung and Investigator Wang Jae-kun of the Bank of Korea’s Investigation Bureau noted in their October 27 report, "Major Characteristics and Risk Assessment of Funding in the AI Industry," that intensifying fundraising competition in the AI sector recently has heightened dependence on external funding and expanded circular finance, fueling growing warnings about financial risks triggered by AI. The report notes that this year, hyperscale data center operators have substantially broadened external financing primarily through long-term corporate bonds, while AI-focused cloud companies have increasingly turned to GPU-backed credit and convertible bonds. AI firms are also actively leveraging off-balance-sheet financing instruments such as special purpose vehicles, joint ventures, and leasing. Meanwhile, the volume of circular transactions between hyperscale firms and AI chipmakers for future sales, facilitated by supply chain investments, continues to grow. The report assesses that while the financial health of major leading enterprises remains solid and the likelihood of AI-related financial risks materializing is currently low, vulnerabilities are steadily building amid rising long-term interest rates. Primary risk factors include delays in AI monetization and the propagation of shocks stemming from circular finance. Particular attention should be directed toward the potential risks posed by AI cloud companies that exhibit inadequate financial buffers and low information transparency. The report emphasizes that as South Korea stands to benefit the most from the AI boom, its deep integration into global supply chains could amplify the transmission intensity of real-economy and financial shocks triggered by AI compared to previous cycles. It is essential to continuously monitor the accumulation of potential vulnerabilities and the likelihood of risks materializing.
Odaily reports: Musk posted on X platform that over the past few weeks, the debt financing market has almost completely shut off financing channels for companies lacking substantial revenue sources outside their AI data center businesses. Musk stated that SpaceX has completed $40 billion in GPU-related debt financing, thanks to its investment-grade credit rating and the revenue generated by Starlink and its rocket launch business.He predicts that more than 200 emerging cloud service providers (Neoclouds) will face large-scale bankruptcies and industry consolidation, with only a few ultimately surviving.
Odaily News: Publicly traded Bitcoin mining companies are expected to need approximately $50 billion to complete their planned AI infrastructure projects, with IREN, Riot Platforms, and HIVE Digital facing funding gaps of approximately $21.1 billion, $7.2 billion, and $4.6 billion, respectively.As Bitcoin mining companies expand into AI and high-performance computing, borrowing costs vary depending on clients, contracts, and project completion pathways. IREN secured $3.65 billion in GPU financing in June at a blended interest rate of 6%; in August, it obtained an additional $2.4 billion in fixed-rate financing at a 9% interest rate.Financing arrangements may also include costs beyond interest. In one Cipher Digital deal, Google agreed to backstop $1.4 billion in lease obligations and received warrants representing 5.4% equity in Cipher; if the warrants are exercised, existing shareholders' ownership stakes could be diluted.According to VanEck data, at the Bitcoin bull market peak last October, mining companies' debt had grown by approximately 500% compared to the second quarter of 2024. Despite a weakening Bitcoin market, capital demand continues to rise as mining companies pivot to AI businesses. (Cointelegraph)
According to Trend Research, a JPMorgan research report dated September 28, 2026 notes that the technology and AI ecosystem stagnated for three months from June through last week, though valuation downgrades have already become highly pronounced across most sectors. Forward earnings for semiconductors continue to climb by approximately 30%, while software has seen almost no earnings upgrades. Valuations for the Tech Seven Giants have fallen to ten-year lows, trading at nearly one standard deviation below the broader market. Capital expenditures by hyperscalers are projected to grow at a 28% compound annual growth rate through 2030. JPMorgan argues that with cleaner positioning, persistent earnings momentum, and an intact capital expenditure upcycle, it advises re-entering the technology sector and reopening a semiconductor-over-software pair trade. Agentic AI is pushing the CPU-to-GPU ratio from 1:4 to 1:8 toward 1:1, providing tailwinds for CPU-related names.
Odaily reports: Aave founder and CEO Stani posted on X platform that his way of measuring Aave's potential market size is "addressable collateral" — the broader the range of assets that can serve as collateral, the greater the lending market space becomes.Stani stated that Aave initially started with crypto assets, then expanded into securities through Coinbase Tokenized Stocks and Horizon RWA, and in the future will also cover assets such as solar energy, batteries, GPUs, robots, and space infrastructure. He expressed his belief that this transformation will continue through 2050, and that Aave's goal is to accelerate this process by approximately 10 years by providing financing for the assets that will drive the "Age of Abundance."
According to PR Newswire, USD.AI, a stablecoin protocol facilitating AI lending, has announced a $128.9 million asset-backed GPU financing deal for an undisclosed borrower, marking the largest single loan to date on the platform. The funds will be used to deploy 32 Nvidia GB200 NVL72 systems in British Columbia, Canada. The operator is a publicly listed GPU cloud provider, and the equipment is secured under a multi-year agreement with an investment-grade counterparty. This financing surpasses the $98.1 million GPU financing project announced by USD.AI in June 2026.
Odaily — The financing will be used to support an undisclosed borrower in deploying 32 NVIDIA GB200 NVL72 systems in British Columbia, Canada. USD.AI is an on-chain lending protocol.
According to TechStartups.com, Dutch AI chip startup Euclyd has completed an over €200 million (approximately $231 million) Series A funding round, co-led by Samsung, Somerset Capital Partners, EQT’s Scaleup Europe Fund, and Innovation Industries. Founded in 2024 by Bernardo Kastrup and Atul Sinha, Euclyd is headquartered in Eindhoven and focuses on AI inference, aiming to replace GPU solutions with proprietary chips and memory architectures to reduce energy consumption for AI inference and lower cost per token. Former ASML CEO Peter Wennink will serve as the company's board chairman.
According to Bloomberg, Shanghai-based Biren Technology is considering a new round of equity sales to raise approximately $1 billion to support the expansion of its artificial intelligence business. As one of the GPU chip developers heavily backed by Beijing, the company has banks in preliminary stages, currently sounding out potential investors for interest.
According to TechCrunch, AI infrastructure company Cornelis announced the completion of a $205 million funding round led by IAG Capital Partners. The company also launched Active Compute Fabric networking technology, designed to improve communication efficiency between AI chips and reduce GPU idle time caused by waiting for data transmission.
The winning allocation numbers for Enflame Technology’s STAR Market IPO were released on the evening of September 3. At an issue price of 142.18 RMB per share, the offering is expected to raise 6.119 billion RMB. This issuance comprises 43.035173 million shares across a total of 20,657 winning numbers. Founded in March 2018, Enflame Technology is grouped with Moore Threads, MetaX, and Biren Technology under the title of the “Four Little Dragons” of domestic GPUs. The proceeds will be allocated to projects including the research, development, and commercialization of fifth- and sixth-generation AI chips.
According to Bloomberg, a fund under Blue Owl Capital led a $2.4 billion debt financing to support cloud computing provider Iren’s purchase of Nvidia Blackwell Ultra GPUs for its Canadian data center campus. The financing consists of a $1.2 billion senior secured term loan and an equal amount of senior secured notes, with a structure that allows Iren to procure the equipment in phases over a set period. Pacific Investment Management Company is also one of the guarantors for the financing. Documents show the facility carries a 9% interest rate and has a tenor of two and a half years.
According to CoinDesk, cryptocurrency platform Bullish will provide $100 million in stablecoin debt financing to USD.AI to support loans collateralized by GPUs and other high-performance computing assets, advancing AI infrastructure development.