Structured Finance, Associate at Fluidstack (New York, NY)Structured Finance, Associate

We exist to make humanity more free. For most of human history, you farmed or you starved. Technology gave people more time for the things they wanted to do, instead of things they had to do. Powerful AI will be the biggest lever for human choice we've ever built - but only if models are aligned with what humanity actually wants. There are groups building AI who don't share these goals. Whoever deploys frontier compute infrastructure fastest will decide whether AI expands human freedom or shrinks it.

We're singularly focused on delivering 10 to 100s of GWs of compute faster than anyone else, rethinking every layer of the stack. We acquire power, design and build data centers, and operate them - with teams spanning hardware and software. Speed and scale are our key differentiators. Come be a part of building civilization-scale infrastructure for AI.

We hire people who care deeply about this problem space. If that is you, please apply!

• Be a barrel. Full autonomy. Own things end to end, take on scope without being asked, no permission required to operate outside your core role.
• Insane urgency. We drive everything forward as fast as possible.
• Reason from first principles. Challenge every assumption. Zero analogy thinking, no egos, the best idea wins.
• Love of the game. The frontier of AI is the most interesting problem of our time. We put in long hours at high intensity to push the frontier forward.
• Build something that actually matters. If you're going to spend your time, spend it on something that matters to the world.

Examples of key problems the team is working on

• Raise capital at the scale of a sovereign, not a startup. Powering 100 GW will take hundreds of billions of dollars in debt and equity, a capital program that rivals a national infrastructure budget. You won't run a financing process; you'll assemble one of the largest pools of private capital in the industry.
• Invent the instruments, don't pull them off the shelf. AI infrastructure is too new for the playbook to exist: credit support backed by equity warrants, hyperscaler-guaranteed leases, project finance underwritten against power and chips. You won't apply standard structures; you'll create the ones the rest of the market ends up copying. Few finance teams sit where energy markets, GPU supply, land control, and credit all converge.
• Close at the speed of the build, not the speed of finance. Capital has to land in lockstep with gigawatts coming online: multiple landmark transactions running at once, on timelines most banks would call impossible. You'll redefine how fast serious capital can move.

• Support financing execution across high-yield bond issuances, senior secured term loans, and equipment and project finance facilities, helping manage diligence, track lender and counsel workstreams, and coordinate documentation through close.
• Build, maintain, and audit transaction models: debt sizing, DSCR waterfalls, restricted payment mechanics, levered and unlevered returns, and multi-scenario sensitivities, owning model accuracy and flagging issues to senior team members.
• Review and model credit support (guarantees, credit wraps, off-take agreements, investment-grade backstops) and analyze warrant agreements and equity co-invest structures, building fluency in how each affects debt sizing and underwriting.
• Evaluate capital structures across HoldCo/OpCo/PropCo, cross-collateralization, cross-default, and intercreditor arrangements under the guidance of senior team members.
• Support external counsel, financial advisors, and counterparty working groups, tracking open legal and commercial issues and moving resolutions forward on deal timelines.
• Support investor and lender materials (investment memos, lender presentations, bond offering documents, approval packages), and partner with development, power, site selection, legal, and technology to gather inputs and communicate how financing affects project outcomes.

The below is a starting point. We always make space for exceptional people, so if you don't fit this role exactly, tell us where you would jobs.ashbyhq.com

• You've worked in leveraged finance, structured credit, or a related capital markets role at a bank, credit fund, or infrastructure sponsor.
• You've had exposure to deal execution: diligence, documentation, and lender and advisor coordination.
• You build, maintain, and audit transaction models for multi-tranche capital structures, with guidance from senior team members.
• You write clearly, drafting organized memos, summaries, and deal-tracking materials.
• Bonus: Data center, power, or digital infrastructure finance on the debt or equity side. Credit agreement mechanics, covenant structures, and high-yield or leveraged loan documentation. Credit support structures (guarantees, off-take agreements). Warrant agreements and equity co-invest structures. SPV structuring or multi-lender intercreditor arrangements.

We are committed to pay equity and transparency.

Fluidstack is an Equal Employment Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, sexual orientation, gender identity, disability and protected veterans’ status, or any other characteristic protected by law. Fluidstack will consider for employment qualified applicants with arrest and conviction records pursuant to applicable law.

You will receive a confirmation email once your application has successfully been accepted. If there is an error with your submission and you did not receive a confirmation email, please email careers@fluidstack.io with your resume/CV, the role you've applied for, and the date you submitted your application-- someone from our recruiting team will be in touch.