The Ledger
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Lemkin: CoreWeave's late investors hold a 70% two-year stock buyback put option
“The last round investors. Obviously they weren't fully aligned on the price, right? And so there's structure and I don't think this is a bad thing. It's okay for late stage investors to be more conservative on price than founders. Like, and so they agreed on a…”
Weitzman: NVIDIA guarantees 25% GPU buybacks with Wall Street lenders
“So I believe earlier this month, NVIDIA did a huge deal with Blackstone, BlackRock, Apollo, and Goldman Sachs. And they said, listen, we want more people to buy more GPUs. We're going to underwrite for you up to 25% the value of a GPU. That if you lend money t…”
Feldman: CoreWeave pioneered borrowing against GPUs as debt collateral
“Many of their innovations are in the financing structure. They were among the first to use the type of debt that they're using to recognize that you could borrow against GPUs and use their access to leverage advantage.”
David Cahn: Expect More Deals Like Blackstone's CoreWeave Debt Financing
“And so you know, Blackstone did this core weave deal. They were one of the first and Blackstone are generally very good at structuring these type of creative deals. Good on them. And I think we'll see more of that type of deals going forward.”