Indonesian AI Company Zankore has entered into an agreement with banks to raise a loan of $3.1 billion amid growing demand for computing power in Asia. This is reported in a press release from Zankore.
One of Asia's largest AI infrastructure financing loans was provided by a consortium consisting of Citigroup Inc., ING, Natixis, Qatar National Bank and United Overseas Bank Ltd.
Zankore intends to use the funds raised to deploy Nvidia-based graphics processors and a 100 MW cloud computing infrastructure with the ability to expand to 1 GW.
Nvidia has entered into a revenue-sharing and credit support agreement with Zankore to reduce creditors' concerns about refunds and credit risk. In addition to Nvidia, Zankore's shareholders include Indosat Ooredoo Hutchison Tbk, the second largest mobile operator in Indonesia, the Qatar telecom conglomerate Ooredoo Group (49%) and Nokia Corp.
Financing the production of graphics processors is becoming a promising new area for lenders in the field of AI, as banks and private credit companies expand their activities beyond data centers to include related equipment.
Zankore is an Indonesian infrastructure company developing a cloud platform for AI. The company sells GPU power for AI training, fine tuning, inference, and agent loadings to enterprises and developers in the region. The headquarters is located in Jakarta (Indonesia).
Nvidia Corp. is an American company manufacturing high-performance graphics processors (GPU) and systems-on-a-chip (SoC), as well as software for video games, high-performance computing, artificial intelligence, unmanned vehicles, etc. The headquarters is located in Santa Clara, California. The market capitalization is $2 trillion.
