Blackstone-led $2.3B CoreWeave loan sets blueprint for chip-backed debt, projected $1T market
Bloomberg reports that a 2023 Blackstone-led $2.3B private credit loan to CoreWeave has become a blueprint for chip-backed debt, a market projected to reach $1 trillion. The loan involved Blackstone executives questioning the value of GPUs and the reality of AI, highlighting the novelty of the asset class.
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Bloomberg : 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 — “What is a GPU?” Blackstone Inc. executives asked CoreWeave Inc.'s leadership. Also: “Is AI real?” — These were entirely logical queries …
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