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baldur@toot.cafe ("Baldur Bjarnason") wrote:
> The interaction between the two collateral layers creates a cascading risk. If GPU collateral loses value, the neocloud tenant cannot service its debt, which impairs the tenant’s ability to make lease payments to the data center SPV, which in turn undermines the cash flows backing the data center ABS that investors are relying on.
and
> ...if it materializes at scale, would propagate losses across every layer of the financing stack.
Oh joy.