InfraCompute / Deals
Crusoe: Upper90 GPU asset-backed financing (2023)
GPU-backed loan for Crusoe, US$200m, 23 October 2023.
Key terms
- Borrower or issuer
- Crusoe
- Date
- 23 October 2023
- Structure
- GPU-backed loan
- Amount
- US$200m
- Pricing
- Not disclosed
- Security
- GPUs (asset-backed)
What’s notable
A US$200m asset-backed facility from Upper90 to buy H100 and A100 GPUs for Crusoe Cloud. Upper90 later described it as Crusoe's first GPU debt facility. It is a useful early marker for the GPU-backed lending market.
Recorded terms
- Lender type
- Private creditNamed lender: Upper90
- Security
- GPUs (asset-backed)
- Lenders and arrangers
- Upper90
Parties
Related facilities
Similar financings
Same structure, other borrowers, closest in date.
More from Crusoe
For counsel on this deal
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Sources
- Crusoe October 2023 Upper90 financing releaseSource date: 23 October 2023
- DCD: Crusoe borrows US$200m from Upper90 for Nvidia GPUs
About this record
Compiled from the sources above. Terms are as announced and may have changed since. Methodology · Send a correction.
