Here's your Forbes Daily Briefing for Sunday, October 5th.

Today on Forbes, Corweave's $29 billion bet that its debt-fueled AI boom won't go bust.

It was a sunny day in August 2017, and Corweave CEO Michael Intrader was beginning to think he might actually set his Manhattan

office tower on fire. Dozens of powerful Nvidia GPUs were plugged into every available outlet,

churning through the convoluted math required to mine cryptocurrency, and they were throwing

off a ton of heat. Nearly a decade later, some things haven't changed.

And Trader is still running GPUs, but on an exponentially larger scale.

Now he's got some 250,000 of them warehoused across the 33 data centers that CoreWeave operates,

renting out access to their number-crunching prowess to compute-hungry

customers. Once popular for rendering graphics for video games and mining crypto, GPUs or graphics

processing units, commonly designed by chip giant Nvidia, have become a crucial engine for artificial

intelligence.

Access to them can determine a company's fortunes,

and Corweave, which trades on the NASDAQ,

has built a $50 billion market cap business by becoming one of their go-to brokers,

serving the likes of Microsoft, OpenAI, and Meta

in the race for AI ascendancy.

There is still the risk of fire, at least in a monetary sense.

After pioneering a new kind of financing that helped Corweave borrow $29 billion,

largely in loans backed by its GPUs,

and Trader now balances shareholders' qualms about deepening debt

and widespread fears about

...