According to CoinMeta, and as reported by the UK's Financial Times, CoreWeave ( CRWV.O ) is preparing to test the market's interest in financing for AI with a loan worth several billion dollars, secured by chips. This loan will provide funds for the purchase of NVIDIA chips and other computing equipment to fulfill a contract with an unnamed investment-grade customer. A senior executive from CoreWeave stated that the loan will raise several billion dollars, with an expected interest cost of around 7% to 7.5%, which is less than half of the yield on its unsecured debt. Its recent unsecured "junk" debt on the public bond market has a yield of over 15%. The CEO of CoreWeave, Michael Intrator, told analysts that, depending on the customer, the loan secured by chips will cover 70% to 100% of the cost of the equipment being financed. CoreWeave also mentioned that it expects to receive approximately $9 billion in customer prepayments and deposits in the next three months and will seek more such funding.