Bullish provides USD.AI $100M stablecoin facility for GPU-backed lending
Summary
Bullish has extended USD.AI a $100 million stablecoin-denominated debt facility to fund loans backed by GPU hardware. USD.AI, an onchain financing platform from Permian Labs, will use the capital to lend to AI infrastructure operators, with repayment secured by the underlying GPUs rather than broader company assets. Bullish also plans to list sUSDai on multiple trading pairs and support it with market making, aiming to improve liquidity and price discovery for GPU-backed debt. The deal expands USD.AI’s lending business after prior GPU-collateralized loans, including a $98.1 million facility backed by 2,304 Nvidia B300 GPUs and a fully funded $34 million loan backed by 768 Nvidia B200 GPUs. Bullish previously invested $4 million in USD.AI.
