Every facility we can source where GPUs or GPU-heavy infrastructure serve as collateral — linked to filings and company statements, ordered by size. Unsecured notes that merely fund GPU purchases are out of scope, however large. n.d. = not publicly disclosed, never estimated.
Scope. Facilities where GPUs or GPU-heavy infrastructure serve as collateral. Excluded: datacenter-lease SPV bonds (Meta Hyperion $27.3B, TeraWulf $3.2B) and unsecured notes — tracked separately.
Milestones. First investment-grade GPU-backed financing: CoreWeave DDTL 4.0 (Mar 2026). First publicly syndicated: CoreWeave DDTL 5.0 (May 2026). Highest-rated: IREN (Fitch A, Jun 2026). First non-Nvidia (ASIC) collateral: General Compute (Jul 2026).
Aggregate. Outstanding Nvidia-GPU-collateralized lending is estimated above $20B.