Blackstone's $2.3B CoreWeave loan became blueprint for chip-backed debt

Bloomberg detailed how a Blackstone-led $2.3B private credit loan to CoreWeave in 2023 became a template for lending against GPUs. The chip-backed debt market is on track to reach $1 trillion.

• Blackstone led a $2.3B loan to CoreWeave in 2023
• The deal became a blueprint for chip-backed debt
• The market is on track to reach $1 trillion
• Blackstone asked CoreWeave what a GPU is and whether AI is real