Indonesia-based AI platform Zankore announced yesterday the signing of a senior term loan facility of up to US$3.1 billion to build an AI Factory of up to 1GW in Indonesia, starting initially with 100MW. This is believed to be the first syndicated deal of this scale in APAC and one of Asia’s largest AI infrastructure financing, according to the firm’s press release.
Citi, ING, Natixis CIB, Qatar National Bank (QNB) Group, and United Overseas Bank (UOB) acted as senior mandated lead arrangers, underwriters and bookrunners (SMLAUBs) for the senior term loan facility. The SMLAUBs’ underwriting of the facility reflects the growing recognition that the next phase of AI development will require significant investment in the infrastructure that powers the AI era.
The financing follows the launch of Zankore, announced in August, with Ooredoo Group, Indosat Ooredoo Hutchison, NVIDIA and Nokia. At the launch, Zankore announced plans to build one of Asia’s largest AI infrastructure platforms, targeting 1 GW of NVIDIA DSX AI Factory capacity and about 200 MW of initial capacity in the first half of 2027.
Proceeds from the debt financing will support the acquisition and deployment of advanced NVIDIA GPU infrastructure to deliver cloud services to AI-native enterprises, startups, developers and institutions across Indonesia and Southeast Asia. The deployment will be based on a revenue-sharing and credit-support model which will align infrastructure deployment with customer demand.
Built on NVIDIA’s full-stack AI computing technologies, the platform will provide high-performance GPU clusters designed for AI training and inference.
Vikram Sinha, Director and Chairman of Zankore, said: “AI is creating a defining opportunity for Indonesia and Southeast Asia. The question is no longer simply whether the region will use AI, but whether we build the infrastructure that enables us to participate meaningfully in creating its future. With NVIDIA’s support, Zankore is building the advanced AI computing foundation needed to help turn that opportunity into reality.”
Kaustubh Kulkarni, Head of Investment Banking, Asia Pacific at Citi, said: “This landmark financing demonstrates the scale of capital and collaboration required to build the next generation of AI infrastructure.”
Uday Sareen, Head of Wholesale Banking, Asia Pacific at ING, said: “ING is delighted to have partnered with Zankore and its shareholders on this pioneering transaction, marking a significant milestone in the financing of AI compute infrastructure within the APAC syndicated loan market. Given the substantial capital demands associated with AI compute and GPU deployments, we are proud to have applied our deep sector knowledge to develop a sustainable and replicable financing solution that can underpin Zankore’s long-term growth and expansion plans.”
Olivier Menard, Head of Global Trade, Asia Pacific at Natixis CIB said: “AI Compute is a new asset class that requires innovative financial solutions, such as this landmark financing for Zankore. We’d like to thank Indosat Ooredoo Hutchison for their trust in our expertise and strong track record, and to congratulate all the sponsors on setting a benchmark for future GPU financing projects in Asia Pacific.”
Khalid A. Al-Sada, Senior Executive Vice President, Group Corporate and Institutional Banking at QNB, said: “This financing reflects the scale of investment and international collaboration required to build the advanced computing capacity that will support Southeast Asia’s next phase of digital growth. Beyond meeting rising demand for AI compute, infrastructure of this scale can enable businesses to develop and deploy new technologies, accelerate innovation and unlock broader economic opportunities across the region. By bringing together our teams in Singapore and Indonesia, we are helping to connect capital with strategically important opportunities while supporting Indonesia’s ambition to become a leading regional hub for AI infrastructure.”
Samuel Tan, Managing Director and Head of Group Investment Banking at UOB, said: “The AI economy will be shaped not only by breakthroughs in technology, but by the infrastructure that enables innovation at scale. Zankore’s ambition to establish one of Asia’s largest AI computing platforms marks a significant milestone for ASEAN’s di