Kony Kwong

Kony Kwong@konyk001 · 16 天前政策影响

New research from Epoch AI breaks down how Anthropic financed a $35B TPU buildout while its annualized revenue was still under $9B. Institutional investors (Apollo, Blackstone, and others) provided the capital. Broadcom didn't fund the deal directly, but agreed to absorb part of the losses if Anthropic stops paying, making the debt safer, and cheaper, for outside lenders. The price of that protection shows up directly in the numbers. Backed tranches priced at 5.75%. Unbacked tranches priced at 8.5%. That 2.75-point gap is the market putting a real number on what structure and protection are actually worth. This is the similar discipline GAIB applies to every deal. We structure and underwrite exposure the way the A1/A2 tranches here are built: senior secured debt, with full contract coverage of repayments across the entire duration of the facility. How capital gets structured now matters as much as how much of it there is. Full article: https://t.co/emAuEEUUmo

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AI：偏政策推进，强调合规落地与规则明晰，对监管主线更敏感。

Kony Kwong@konyk001 · 27 天前赛道影响

Two years ago we said compute would be financed like infrastructure, not bought like hardware, and that was the genesis story of GAIB. Some people underestimated key elements of the underwriting: GPU lifespan (A100 still earning after six years in the market), residual value (fungible across every cloud and workload), and whether the demand was real. Financing has been the bottleneck on every industrial revolution; electricity, rail, telecom, fiber, all of them needed significant amounts of external capital. $500B of institutional capital entering AI infrastructure validates the asset class. It also only serves the top of the market. The operators building the next layer down still need capital, and that is the part we keep building.

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AI：偏主题投资表达，释放对基础设施与新叙事的偏多信号。

Kony Kwong@konyk001 · 2026/08/03赛道影响

RT @gaib_ai: sAID is the #1 Yield Bearing Asset on @stablewatchHQ by 30d APY above $10M TVL at 10.83%! We continue building to provide the…

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AI：偏主题投资表达，释放对基础设施与新叙事的偏多信号。

Kony Kwong@konyk001 · 2026/07/18赛道影响

Someone is finally understanding the market. GAIB is more than GPU financing! Stay tuned!

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AI：偏主题投资表达，释放对基础设施与新叙事的偏多信号。

Kony Kwong@konyk001 · 2026/07/13观点输出

@bonnazhu We're doing both 🫡

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AI：延续个人公开立场，强调长期主义、执行效率与行业方向判断。

Kony Kwong@konyk001 · 2026/07/13政策影响

The wealth playbook has flipped: where past tech giants went public early and left huge upside for retail, today’s AI leaders stay private for longer, capture most of the gains behind closed doors, and leave the public buying at the peak. When we started GAIB, our mission was clear: break down the barriers to the AI economy. We began on the private credit side, creating access to fund the neo-clouds and data centers by financing the GPU clusters driving this generation. We saw a gap in how AI’s physical foundation was funded, and we bridged it. Today, I am incredibly proud to announce the launch of GAIB Select; just as we opened access to AI private credit, we are now opening access to equity. Our team has worked incredibly hard to bring this to life. Navigating this landscape requires absolute precision, which is why we’ve focused intensely on building a structure that is fully compliant with applicable regulations. If you have any questions about the product, asset selection, or our regulatory structure, please feel free to DM me or the team directly. We’d love to chat.

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AI：偏政策推进，强调合规落地与规则明晰，对监管主线更敏感。

Kony Kwong@konyk001 · 2026/07/06赛道影响

RT @gaib_ai: GAIB is expanding in scope after paying +$750K in AI financing interest to sAID holders. In July, we will launch GAIB Select,…

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AI：偏主题投资表达，释放对基础设施与新叙事的偏多信号。

Kony Kwong@konyk001 · 2026/05/13政策影响

Anthropic is nuking price discovery through secondaries to protect or even dictate their market valuation before IPO. By declaring trades void ab initio, they’ve created a legal nightmare where sellers can double-dip and buyers own zero. The real war will be over whether these draconian "transfer" restrictions - which target even "beneficial interests" - constitute an illegal restraint on alienation under Delaware law.

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AI：偏政策推进，强调合规落地与规则明晰，对监管主线更敏感。

Kony Kwong@konyk001 · 2026/05/13赛道影响

The 'hot potato' game is fueled by a total lack of verifiability. I’ve seen friends 'invest' in SpaceX through L5 agreements that were essentially one-page handshake deals—pure counterparty risk masquerading as 'exclusive access.' But we shouldn't throw the baby out with the bathwater. SPVs are a standard tool for cap table hygiene; the issue isn't the structure, it’s the layering of 'trust' where there should be legal certainty. The reality is that companies are staying private much longer, capturing the bulk of their value creation before an IPO even hits. If we don’t build transparent, verifiable paths to these assets, that value capture remains gatekept by a tiny circle of affiliates. We need proper structures so this growth isn't just a 'handshake' game for the few, but an accessible market for the many.

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AI：偏主题投资表达，释放对基础设施与新叙事的偏多信号。

Kony Kwong@konyk001 · 2026/03/06观点输出

Check out my latest interview with @animocabrands

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AI：延续个人公开立场，强调长期主义、执行效率与行业方向判断。