The Circular Financing Chain of the GPU Boom
adletbalzhanov · hn · 2026-07-12
This article analyzes the circular financing structure formed among Nvidia, CoreWeave, and Nebius based on GPU supply and demand.
The focus isn't just on "who funded whom," but on how capital and compute power fuel each other behind the GPU boom: on one side, compute providers and cloud vendors are expanding; on the other, the AI industry's demand for GPUs continues to surge. The article describes this dynamic as a closed loop of capital and compute.
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