PANews reported on October 9th that QumulusAI, a company building GPU-based cloud infrastructure for artificial intelligence (AI), has secured a $500 million credit line to fund its expanding GPU fleet. The financing was arranged by Permian Labs and will be distributed through the blockchain-based credit protocol USD.AI. The company stated that this non-recourse credit facility will allow QumulusAI to borrow stablecoins up to 70% of the value of its approved GPU deployments. This approach allows the company to obtain funding faster than traditional credit channels such as bank loans or venture debt.PANews reported on October 9th that QumulusAI, a company building GPU-based cloud infrastructure for artificial intelligence (AI), has secured a $500 million credit line to fund its expanding GPU fleet. The financing was arranged by Permian Labs and will be distributed through the blockchain-based credit protocol USD.AI. The company stated that this non-recourse credit facility will allow QumulusAI to borrow stablecoins up to 70% of the value of its approved GPU deployments. This approach allows the company to obtain funding faster than traditional credit channels such as bank loans or venture debt.
QumulusAI secures $500 million blockchain-backed credit line to expand AI computing infrastructure
PANews reported on October 9th that QumulusAI, a company building GPU-based cloud infrastructure for artificial intelligence (AI), has secured a $500 million credit line to fund its expanding GPU fleet. The financing was arranged by Permian Labs and will be distributed through the blockchain-based credit protocol USD.AI. The company stated that this non-recourse credit facility will allow QumulusAI to borrow stablecoins up to 70% of the value of its approved GPU deployments. This approach allows the company to obtain funding faster than traditional credit channels such as bank loans or venture debt.
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