Core42, a G42 company specializing in sovereign cloud and AI infrastructure, has secured US$ 550 million to scale its AI cloud and compute deployments across the United States and Europe.
In a press release, Core42 explained that these funds were raised via two structured trade finance facilities with HSBC, one for US$ 240 million and another for US$ 310 million, completed in February and May this year, respectively.
“The trade finance facilities represent a defining moment for Core42 and for the broader AI infrastructure sector, reflecting growing institutional recognition of AI architecture as long-duration, industrial-grade capacity,” said Neha Gupta, Chief Financial Officer, Core42. “The provision of the trade facilities by HSBC will strengthen our ability to deploy capacity at speed across the US and Europe while maintaining financial discipline and a long-term growth framework. As enterprises and governments scale mission-critical AI workloads, the underlying cloud and compute platforms must be resilient and built to support sustained demand.”
Shaikha AlMarri, Head of Banking UAE, HSBC said, “These pioneering structures are designed to support the financing of Core42’s current deployment, while also establishing a robust framework that enables streamlined access to funding for future initiatives. By providing this flexibility, HSBC demonstrates a strong appreciation of the unique requirements and dynamics within the technology sector.”
The company says that the facilities have been structured to enable strategic flexibility, and both facilities are non-equity dilutive. The funding aims to quicken time-to-market for large-scale capacity buildouts tied to long-term contracted demand and enterprise-grade workloads.
“Industrial AI infrastructure demands structural discipline,” said Roopal Jobanputra, General Counsel, Core42. “The facilities are built to support long-term deployment at scale while maintaining the governance and cross-border clarity required for mission-critical infrastructure.”
Headquartered in the UAE with deployments across the United States and Europe, Core42’s full-stack AI infrastructure is anchored by its European headquarters in Dublin, with deployments underway in Italy and France and local governance partners across key markets. Core 42 is part of G42, an Abu Dhabi-based global technology group, best known for being the entity that is building the upcoming Stargate UAE, a 1GW compute cluster that will run in the 5GW UAE–U.S. AI Campus in Abu Dhabi.