A $400 Million Loan Backed by AI Chips, Not the Usual Kind

Lender Upper90 has extended a $400 million loan to AI computing company General Compute, using specialized AI chips called SambaNova SN50s as collateral instead of standard graphics chips. Reported July 17, 2026, the deal is believed to be the first of its kind. Upper90 first used chips as loan collateral with Crusoe in 2021.