According to CoinMeta, when a AI cloud company goes bankrupt, the fate of its GPU assets depends on the legal ownership of the hardware, whether it is used as collateral, whether it is a subsidiary that takes out loans, and the priority of creditors in the capital structure. AI infrastructure companies are increasingly financing their GPU purchases through secured loans directly related to contracts with computing equipment and customers. The latest SEC documents show that some debt facilities are secured by almost all the assets of specific subsidiaries, including computing equipment and related collateral. If the borrower defaults, lenders may have stronger claims to those assets than ordinary creditors.