Odaily Planet Daily reported that QumulusAI, a company that builds GPU-based (graphics processing unit) cloud infrastructure for artificial intelligence, has locked in a $500 million credit line to fund its expanding GPU fleet. The financing was arranged by Permian Labs and will be distributed through the blockchain-based credit agreement USD.AI. The company said that this non-recourse credit arrangement will allow QumulusAI to borrow stablecoins at a rate of up to 70% of the value of its approved deployed GPUs. Compared with traditional credit channels such as bank loans or venture debt, this method allows companies to obtain funds faster. (CoinDesk)