Onchain GPU Financing Tracker
Every public GPU loan funded through a crypto protocol or stablecoin capital.
What it shows
$441M committed or drawn across 18 GPU loans. USD.AI wrote 93% of it.
Borrowers pay 10% to 15% fixed at 70% to 80% loan-to-value: at least the cost of unrated bank credit, for smaller borrowers.
Announced frameworks add $1.53B, mostly undrawn. They are listed but left out of totals.
Every onchain GPU loan
Newest first. Updated October 10, 2026.
| Date | Borrower | Lender | Amount | GPUs | Rate | LTV | Term | Source |
|---|---|---|---|---|---|---|---|---|
| Jul 1, 2025 to Sep 23, 2026 | 17 loans: QumulusAI, Crucible Capital, NexGen Cloud, Duos Edge AI, Hydra Host, Corvex and 9 undisclosed | USD.AI | $411MCommitted or drawn, plus $1.5B in frameworks | 8,896 (B300, RTX PRO 6000, H200, B200, GB200 NVL72) | 10% to 15% | 56.7% to 80% | About 3 years | USD.AI |
| Aug 18, 2026 | Undisclosed SPV (NEAR AI anchor buyer) | Falcon Finance | n/dFramework (not drawn) | - | Issued below par | - | 4 to 8 month delivery gap | Falcon Finance |
| Apr 8, 2026 | Undisclosed U.S. neocloud | Forum Markets (USD.AI takeout) | $25MFramework (not drawn) | - | Mid-teens target | - | 60 to 120 day bridge | SEC EDGAR |
| Sep 22, 2025 | Siam.AI | GAIB | $30MCommitted | - | - | - | - | Chainwire (company release) |
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