Crusoe Energy gets $200m loan to purchase Nvidia GPUs

Crusoe Energy,responsible for powering AI and crypto workloads from waste gas burnt at oil wells, is to borrow $200m from investment firm Upper90, to buy H100 TensorCore GPUs, the latest Nvidia GPU which launched in April and some of the previous version.

Crusoe notes the new GPUs will come online in early 2024, “at a time when the entire compute infrastructure market is constrained due to burgeoning demand from AI/ML workloads, and Crusoe is excited to support this fast-growing market.”

The Information reports that Crusoe is also planning to have 20,000 of the H100s available for customers. In its report, it adds, “The fate of Crusoe and other GPU cloud providers is intertwined with Nvidia's. So long as Nvidia remains dominant, its chips will be valuable for longer. And that will give Crusoe, CoreWeave, and other cloud providers a shot at generating profits.”