Independent GPU compute reference rates for credit agreements. Open methodology. Daily publication. Built for citation in borrowing bases, covenants, and collateral monitoring.
GPU collateral is underwritten, deployed, and liquidated as 8-GPU InfiniBand nodes. The SPV’s contractual structure enables re-deployment of that capacity to the open rental market. CRI-8G is the direct market anchor for collateral valuation in a workout.
Bilateral GPU deals close on relationships. Syndications and rated securitizations require a named, independent benchmark that survives rating agency review and syndicate lender due diligence. CRI-8G is that benchmark — published daily, open methodology, any counterparty can reproduce the calculation. See illustrative applications →
CCIR provides rate definition language, methodology documentation, and Calculation Date packages. All threshold levels, advance rates, and structural terms are credit judgments set by counsel and lenders. Engage CCIR →
Cross-generation rate compression as an observable proxy for obsolescence velocity. When the spread narrows, the next generation is displacing the current one. Live signal below
Rate differential between GPU generations, computed from published CRI-8G values.
GPU compute transactions are negotiated bilaterally and protected by confidentiality provisions — no counterparty publishes what they actually paid. Seller-posted on-demand rates are continuous, public, and decomposable. They represent the price at which capacity is offered to the market in the configuration lenders underwrite — comparable to how appraisers rely on listing data when closed-sale comps are unavailable or unverifiable.
Many GPU cloud providers offer different pricing when buyers commit to a term — months or years of guaranteed usage. These committed rates are negotiated privately, not publicly available, and can vary by customer and term length. CRI-8G measures on-demand rates — the price available to any buyer, right now, with no upfront commitment. This is the rate at which GPU capacity is openly offered to the market and independently verifiable as an input for collateral and revenue analysis.
CRI-8G reports a per-GPU hourly rate within the 8-GPU node configuration the market deploys and lenders underwrite.
A reference rate is only defensible when the publisher has no position in the market it prices. CRI is structurally separated from every side of the transaction — no brokerage revenue, no marketplace fees, no counterparty exposure.
In aircraft finance, this role is filled by ISTAT-certified appraisers like AVITAS — independent of any airline, lessor, or trading desk, their indicative base values are contractually embedded in EETC indentures because the rate source has no stake in the outcome.
H100 on-demand access rates have declined materially since 2024. Without a live reference rate, covenant signals arrive only after value has already moved.
Generation transitions are scheduled market events, not tail risks. Most current structures lack real-time mechanisms to respond as they occur. The Generation Spread is that mechanism.