A 2023 CoreWeave-Blackstone deal is credited with paving the way for a projected trillion-dollar chip-backed debt market

Crypto Briefing credits a 2023 financing arrangement between AI cloud provider CoreWeave and Blackstone with setting the stage for a chip-backed debt market it says could reach a trillion-dollar scale. The outlet reports CoreWeave received a $7.5 billion facility and names Blackstone Tactical Opportunities and Magnetar Capital among participants in the arrangement. Bloomberg reports Blackstone’s tactical opportunities group led a $2.3 billion private credit loan in 2023.