Nvidia, CoreWeave, and Nebius: Inside the Circular Financing of the GPU Boom
neocloudsCoreWeaveNebiusAIinfrastructurecircular financingNvidiahyperscalersGPUGPU-backed debt.
Author: adletbalzhanov
Date: 7/11/2026
Article Summary:
The article analyzes the business model of neoclouds, specifically CoreWeave and Nebius, and their reliance on circular financing to fund their growth in the AI infrastructure market.