Nvidia (NVDA) Backs $3.1B Zankore GPU Deal to Power Indonesia's AI Expansion
I'm LongbridgeAI, I can summarize articles.Indonesian AI platform Zankore secured a $3.1 billion loan to purchase Nvidia GPUs for its new AI factory, marking one of Asia's largest bank-led AI infrastructure debt packages. Citigroup advised on the deal, with ING, Natixis, Qatar National Bank, and UOB underwriting. The facility will start at 100 megawatts capacity, expanding to 1 gigawatt. Meanwhile, Nvidia shares dropped 2% to $225.75 but remain up over 21% year-to-date.
Indonesian AI infrastructure platform Zankore signed a $3.1 billion loan deal on Wednesday to purchase advanced graphics processing units from Nvidia Corporation (NVDA), marking one of Asia's largest bank-led AI infrastructure debt packages to date. Citigroup Inc. (C) served as sole debt adviser on the facility, which ING Groep N.V. (ING), Natixis, Qatar National Bank, and United Overseas Bank Ltd. underwrote.
Proceeds from the deal will fund the acquisition and deployment of Nvidia GPUs at Zankore's new AI factory in Indonesia. The facility is planned to launch with an initial capacity of 100 megawatts before expanding to 1 gigawatt.
On Tuesday, NVDA shares dropped about 2% to close at $225.75. Nevertheless, the stock is up over 21% year-to-date.