US-based data center operator GMI Cloud, is seeking a US$ 300 million loan to buy Nvidia AI chips for its facility in Thailand hosted by STT GDC Pte, Bloomberg reports today quoting people familiar with the matter. The user of the chips would be Tencent Holdings Ltd., the people added.
GMI Cloud, an Nvidia Corp. Partner, had approached banks and private credit funds for the loan, they said, adding that yields would be in the low-teens.
GMI Cloud and Tencent did not immediately comment while STT GDC declined to comment when asked.
Financing AI chips is now becoming a trend in addition to data centers.
GMI Cloud recently secured a NT$13.9 billion (US$436 million) loan, more than double what it sought, for a project in Taiwan. The loan was backed by contracts for computing power from advanced chips.