Nobody knows what a used GPU cluster is worth

If xAI defaults on its debt, Apollo Global Management ends up in the GPU rental business.

Nobody knows what a used GPU cluster is worth Meg McNulty May 05, 2026 66 12 18 Share If xAI defaults on its debt, Apollo Global Management ends up in the GPU rental business. That is in the contract, signed in June 2025 , on a five billion dollar debt facility arranged by Morgan Stanley. The lenders have the right to take over Colossus, the company’s 200,000 GPU cluster outside Memphis, and rent it to other AI companies until the loan is repaid. It’s interesting whether Apollo, or Diameter Capital Partners, or any of the other lenders now financing the AI buildout this way, would want to exer

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