AMD to Backstop $300 Million Crusoe Loan, Following Nvidia Playbook

Chipmaker AMD is pursuing the same growth-driving strategy that has boosted sales at rival Nvidia: lending its financial support to upstart cloud providers buying its chips.

AMD will effectively guarantee a $300 million loan for data center and cloud startup Crusoe to purchase AMD’s AI chips and install them in a data center in Ohio. The loan from Goldman Sachs will be backed by the chips and related equipment, said people with knowledge of the deal.