🤖 AI INFRASTRUCTURE JUST DISCOVERED WORKING CAPITAL.
💰 Hut 8 closed a $1.07B corporate revolver after already raising $7.5B of nonrecourse project financing for its AI data centers.
âš¡ That matters because development liquidity, utility deposits, equipment, and permanent project debt should not all be funded with expensive common equity.
Meanwhile:
🔹 Nvidia authorized another $150B of stock buybacks
🔹 Nscale raised $3.36B from investors including Nvidia, Apollo and Abu Dhabi Investment Council
🔹 The 10 year Treasury remains above 5.2%
🔹 New York Life financed $386M on a Manhattan office tower after a major tenant signed a 15 year commitment
The…
The skinny
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