Overview
- Goldman Sachs will provide a $300 million loan to Crusoe to buy AMD AI processors, with the chips and related equipment pledged as collateral.
- AMD offered to lease back the processors if Crusoe cannot secure customers, according to The Information’s reporting.
- The backstop allowed Crusoe to secure an interest rate near 6%, lower than typical unsecured terms.
- Crusoe is installing the hardware in an Ohio data center developed by 5C, a Canadian firm backed by Brookfield.
- The deal is described as the first reported use of AMD chips in a circular financing structure similar to Nvidia’s arrangements, and both companies declined to comment.