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A commercial loan for a set amount of money that comes with a fixed repayment schedule.
Borrowers receive capital from lenders and pay it back over time with interest. A delayed draw term loan allows the borrower to pull down funds in pieces as needed rather than all at once.
Lucid missed Wall Street expectations for the third quarter but raised its liquidity to $3.75 billion after expanding a loan facility with Saudi Arabia's Public Investment Fund.
Top finance leaders say the massive capital required for AI infrastructure cannot rely solely on loans, urging more equity investment as debt risks grow.