[CoreWeave’s May $3.1B DDTL](https://www.sec.gov/Archives/edgar/data/1769628/000176962826000236/ex9912.htm) tightened 50 bp during syndication, so the 400-600 bp knowledge premium will compress once middle-market GPU paper becomes legible. sUSDai adds a separate duration trade: 3-4 year take-or-pay leases sit behind a DeFi token with [fixed 30-day redemption windows](https://docs.usd.ai/faq/usdai-and-susdai-101).

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