Annan Lu

[Liquid Compute @liquidcompute]

Liquid Compute and K8 announce a $250M prepayment facility to help compute buyers fund prepayment capacity commitments.

This facility makes compute financeable the way every other commodity already is, and we are already finalizing our first deployments with a few large inference clouds.

We're proud to build this with K8 as we bring the discipline of commodity finance to compute.

[Stanley Lee @stanleylee21]

Part 1 of the GPU Offtaker Credit Map series https://t.co/oYllkLkga0

[Stanley Lee @stanleylee21]

Today we're publishing the GPU Offtaker Credit Map. Full report attached found here: https://t.co/v6cozaUEmo the methodology, every score, and a structuring view for each tier.

I've spent my career in credit, and the question in every compute financing I've seen is the same: who is actually paying for this capacity, and can they keep paying for three years? In project finance the offtaker's credit is the collateral that matters most. Until now there was no common way to assess it.

If you're buying or building compute and need financing, we arrange it. Reach out. If you're a lender looking to get exposure to AI compute buyers and operators, we want to talk to you too.

@liquidcompute has commercial relationships with some companies on this list. They did not affect scoring, which follows the published methodology.

[Liquid Compute @liquidcompute]

Announcing the Liquid Compute GPU Offtaker Credit Map

We assessed 200 private buyers of compute and ranked 169 on a single, transparent credit framework. Our findings cut against consensus: the strongest private offtakers are trading firms and profitable private corporates, not necessarily best-known AI labs.

We released this because the real bottleneck to access compute is capital markets. Capacity gets built when someone will finance it, and financing turns on a question nobody had a shared answer to: can this buyer keep paying for the full term?

The framework is published in full, and we intend it to become the stepping stone for providing greater transparency about counterparty credit. If you buy, build or finance compute, we want to hear from you. If you are on the list and think we have you wrong, please reach out. We welcome all comments and direct feedback on the methodology.

[Liquid Compute @liquidcompute]

H200 rental rates have climbed back to where they stood at launch, even as Blackwell-generation B200s and B300s come online at scale.

This is a clear signal that demand for compute is outpacing supply across every generation, and that prior-generation hardware is holding its value far better than most depreciation models assumed.

For anyone buying, selling, or financing GPUs, it's a reminder that compute pricing is less about the chip on the spec sheet and more about who has capacity available when it's needed.

https://t.co/H5IePC0w5y

[Stanley Lee @stanleylee21]

https://t.co/cLLiuNsqHc

[Ronit Jain @ronitrjain]

I’m excited to share that today @liquidcompute emerges from stealth with a $15 million seed round. We are announcing pending applications before the CFTC for Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO) status to build the first regulated orderbook to trade both cash and physically settled contracts on compute.

The reality of compute is that it is heterogeneous and cannot be stored, functioning much like electricity rather than oil. Our approach focuses on developing a highly efficient short-term market to underpin a cash-settled derivatives layer, operating similarly to PJM or ERCOT sitting below liquid derivatives markets.

Over recent months, I’m also happy to announce that Liquid Compute has collaborated with leading financial firms like Susquehanna International Group, @BGCGroupInc and @wintermute_t to facilitate liquid OTC trading for AI startups, neocloud providers, and lenders.

This round was co-led by @chemistry and @FirstMarkCap , with participation from K8 Cap, Night Capital, @ufo_holdings, @TrueBridgeCP, Brainchild Holdings (@kalvepuri), @ycombinator, and angels such as Dmitry Balyasny, @taro_f , @JdotJdotF, Ethan Lin and others from companies like CoreWeave, Jane Street, OpenAI

[Annan Lu @AnnanLu]

@ericwinder4 happy birthday to a quality player. I've learned so much from you.

[Annan Lu @AnnanLu]

@804Varsity @804Varsity @ericwinder4 so disrespectful. Gave credit to you for my hard earned goal.