Benchmarks · tools
Compare financing terms
Put up to three selected GPU financings side by side: amount basis, pricing, maturity, security and credit support, row by row.
3financings side by side
Choose from the selected GPU cases. Each row keeps its own basis, so a margin, a coupon and a maturity description are never merged.
Selected records · descriptions may be inherited
Up to three selected records
Read the terms side by side.
This small case menu is a starting point. Inspect the field observations before using a term in a live transaction. A source check on one field does not verify the whole financing.
| Term | IREN · Microsoft DDTL floating tranche | CoreWeave · DDTL 5.0 | Nebius · First secured GPU facility |
|---|---|---|---|
| Recorded event | 2026-06-01 | 2026-05-15 | 2026-07-17 |
| Amount / stated basis | USD 1550minherited_exact_1550m; checked_source_approximately_1500m | USD 3100mfacility_capacity_inherited | USD 775mfacility_capacity_inherited |
| Floating margin | +225bpterm SOFR | +450bpdaily compounded SOFR | +250bpSOFR convention undisclosed |
| Fixed coupon | Not established | Not established | Not established |
| Maturity description | 2031-12-31 or earlier on final contract fee payment | 2031-11-15 | 2030-10-31 |
| Security description | GPU and associated customer cashflows | Not established | Deployed GPU infrastructure and contracted cashflows |
| Recourse description | Not established | Unconditional parent guarantee | Not established |
| Credit-support evidence | Named customer contract | Support not established in this view | Issuer describes IG offtake |
| Review scope | Selected field checks; other descriptions may be inherited | Selected field checks; other descriptions may be inherited | Selected field checks; other descriptions may be inherited |
| Source / record | IREN Microsoft GPU financing Form 8-K ↗ | CoreWeave DDTL5 Form 8-K ↗ | Nebius first secured debt financing ↗ |
Security, recourse and maturity descriptions can be inherited unless the linked record expressly identifies a field check. Unknown fees, cash flows and hedge costs have not been replaced with zero. No all-in cost or risk ranking is calculated.
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