Wall Street Journal ·

The Pentagon is in talks to lend roughly $5B to neocloud Fluidstack; Fluidstack is being advised on its loan application by Palmer Luckey's Erebor Bank

Fluidstack, an AI infrastructure company, is being advised on the loan by the bank started by Palmer Luckey, an early supporter of Donald Trump

In this story Erebor Bank Fluidstack Palmer Luckey Pentagon

The Pentagon is in talks to lend roughly $5B to neocloud Fluidstack; Fluidstack is being advised on its loan application by Palmer Luckey's Erebor Bank

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Wall Street Journal — The Pentagon is in talks to lend roughly $5B to neocloud Fluidstack; Fluidstack is being advised on its loan application by Palmer Luckey's Erebor Bank ↗

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Sep 10Sep 12

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Bloomberg: Situational Awareness is pitching clients to invest in Fluidstack alongside it in a round that values the neocloud at $40B, up from $18B in September

Forbes: Neocloud Fluidstack closed a $1.5B round led by Jane Street at an $18B+ valuation; in July, the startup announced a $750M round at a $7.5B valuation

Financial Times: Palmer Luckey's Erebor hits $7B+ in deposits since launching in February, including $3B+ over the past quarter with 500+ new customers

Bloomberg: The DOD offers chipmaker Wolfspeed, which filed for bankruptcy in 2025, a conditional loan of up to $1.5B in exchange for warrants for up to 7.5% of the company

Financial Times: Nvidia is in early-stage talks with insurance companies to structure risk-mitigation products to protect lenders against loan defaults by neoclouds

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