Structuring an SPV for a GPU-Backed Loan
Collateral in a rack isn't collateral without the right access agreements in place.
Marguerite Callaghan
Section
4 stories in Features.
Collateral in a rack isn't collateral without the right access agreements in place.
Serious GPU credit vaults need auditors who understand data centers, not just spreadsheets.
GPU compute pricing drops faster than debt gets repaid, and that's just one way these deals break.
Nvidia's chip cadence, not wear, drives GPU depreciation—and most lessors price it wrong.