--- title: Nvidia, CoreWeave, and Nebius: Inside the Circular... description: Neoclouds CoreWeave and Nebius are riding massive hyperscaler demand from Microsoft, Meta, OpenAI, and Anthropic — with combined commitments exceeding $145... canonical: https://daily.dev/posts/nvidia-coreweave-and-nebius-inside-the-circular-financing-of-the-gpu-boom-tiepbgsbn twitter:card: summary_large_image twitter:site: @dailydotdev og:type: website og:site_name: daily.dev og:title: Nvidia, CoreWeave, and Nebius: Inside the Circular Financing of the GPU Boom | daily.dev og:description: Neoclouds CoreWeave and Nebius are riding massive hyperscaler demand from Microsoft, Meta, OpenAI, and Anthropic — with combined commitments exceeding $145... og:url: https://daily.dev/posts/nvidia-coreweave-and-nebius-inside-the-circular-financing-of-the-gpu-boom-tiepbgsbn og:image: https://api.daily.dev/og/posts/tIePBgsBN.png og:image:alt: Nvidia, CoreWeave, and Nebius: Inside the Circular Financing of the GPU Boom og:image:width: 1200 og:image:height: 630 og:locale: en --- > ## Documentation Index > Fetch the complete documentation index at: https://daily.dev/llms.txt > Use this file to discover all available pages before exploring further. # Nvidia, CoreWeave, and Nebius: Inside the Circular Financing of the GPU Boom **[Hacker News](https://daily.dev/sources/hn)** · 22 min read · 0 upvotes · 0 comments ## Summary Neoclouds CoreWeave and Nebius are riding massive hyperscaler demand from Microsoft, Meta, OpenAI, and Anthropic — with combined commitments exceeding $145 billion. Their edge lies in rapid GPU deployment (weeks vs. years for hyperscalers) and higher GPU utilization rates (MFU >50% on Hopper). However, both companies face severe cash flow mismatches: CoreWeave has $24.86B in debt with capex running 3.7x revenue, while Nebius needs $6.3B in additional 2026 funding. A key structural concern is circular financing — Nvidia invests $2B in each company, backstops CoreWeave's unsold GPU capacity up to $6.3B, while both companies funnel that capital back to Nvidia buying GPUs. CoreWeave's GPU-backed delayed draw term loans (DDTLs) use hyperscaler contracts as collateral to achieve investment-grade ratings, but rising Treasury rates are pushing interest expense toward 27% of revenue. The sustainability of this model depends on whether revenue can eventually converge with capex before debt loads become unmanageable. ## Full article daily.dev links to this article rather than hosting it. Read it at the original source: ## Similar posts on daily.dev - [Nvidia invests $2B to help debt-ridden CoreWeave add 5GW of AI compute](https://daily.dev/posts/nvidia-invests-2b-to-help-debt-ridden-coreweave-add-5gw-of-ai-compute-suyuzcb2u) · TechCrunch · 0 upvotes · 0 comments - [Nebius raised $775 million by borrowing against its GPUs. It has $40 billion more contracts to securitise.](https://daily.dev/posts/nebius-raised-775-million-by-borrowing-against-its-gpus-it-has-40-billion-more-contracts-to-secur-aqvxzmvur) · The Next Web · 0 upvotes · 0 comments - [What the rise of CoreWeave tells us about the AI bubble](https://daily.dev/posts/what-the-rise-of-coreweave-tells-us-about-the-ai-bubble-rd6bqwlqd) · The Verge · 1 upvotes · 0 comments --- Tags: [#cloud](https://daily.dev/tags/cloud), [#nvidia](https://daily.dev/tags/nvidia), [#gpu](https://daily.dev/tags/gpu), [#ai-infrastructure](https://daily.dev/tags/ai-infrastructure) [View this post on daily.dev](https://daily.dev/posts/nvidia-coreweave-and-nebius-inside-the-circular-financing-of-the-gpu-boom-tiepbgsbn) ```json {"@context":"https://schema.org","@graph":[{"@type":"Organization","@id":"https://daily.dev/#organization","name":"daily.dev","url":"https://daily.dev","logo":{"@type":"ImageObject","url":"https://daily.dev/apple-touch-icon.png","width":180,"height":180},"sameAs":["https://twitter.com/dailydotdev","https://github.com/dailydotdev","https://www.linkedin.com/company/daily-dev-ltd"]},{"@type":"WebSite","@id":"https://daily.dev/#website","url":"https://daily.dev","name":"daily.dev","publisher":{"@id":"https://daily.dev/#organization"},"potentialAction":{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https://daily.dev/search?q={search_term_string}"},"query-input":"required name=search_term_string"}}]} {"@context":"https://schema.org","@type":"TechArticle","headline":"Nvidia, CoreWeave, and Nebius: Inside the Circular Financing of the GPU Boom","url":"https://daily.dev/posts/nvidia-coreweave-and-nebius-inside-the-circular-financing-of-the-gpu-boom-tiepbgsbn","mainEntityOfPage":{"@type":"WebPage","@id":"https://daily.dev/posts/nvidia-coreweave-and-nebius-inside-the-circular-financing-of-the-gpu-boom-tiepbgsbn"},"datePublished":"2026-07-11T19:58:13.634Z","dateModified":"2026-07-11T19:58:39.859Z","description":"Neoclouds CoreWeave and Nebius are riding massive hyperscaler demand from Microsoft, Meta, OpenAI, and Anthropic — with combined commitments exceeding $145...","image":"https://media.daily.dev/image/upload/f_auto,q_auto/v1/posts/af1b0ef1c354347d44250046e90d5275?_a=AQAEuop","thumbnailUrl":"https://media.daily.dev/image/upload/f_auto,q_auto/v1/posts/af1b0ef1c354347d44250046e90d5275?_a=AQAEuop","isAccessibleForFree":true,"articleSection":"Hacker News","inLanguage":"en","publisher":{"@type":"Organization","name":"daily.dev","url":"https://daily.dev","logo":{"@type":"ImageObject","url":"https://daily.dev/apple-touch-icon.png","width":180,"height":180}},"author":{"@type":"Organization","name":"Hacker News","logo":"https://media.daily.dev/image/upload/t_logo,f_auto/v1/logos/hn","url":"https://daily.dev/sources/hn"},"commentCount":0,"discussionUrl":"https://daily.dev/posts/nvidia-coreweave-and-nebius-inside-the-circular-financing-of-the-gpu-boom-tiepbgsbn","interactionStatistic":[{"@type":"InteractionCounter","interactionType":{"@type":"LikeAction"},"userInteractionCount":0},{"@type":"InteractionCounter","interactionType":{"@type":"CommentAction"},"userInteractionCount":0}],"keywords":"cloud,nvidia,gpu,ai-infrastructure","timeRequired":"PT22M"} {"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https://daily.dev"},{"@type":"ListItem","position":2,"name":"Hacker News","item":"https://daily.dev/sources/hn"},{"@type":"ListItem","position":3,"name":"Nvidia, CoreWeave, and Nebius: Inside the Circular Financing of the GPU Boom"}]} ```