GMI Cloud sought \~$439M to finance $NVDA GPUs for an AI data center in Taiwan, but around a dozen banks have already committed \~$947M. Demand could ultimately reach \~$1.26B.
It’s one of Asia’s first major loans backed by future GPU-compute revenue.
NVIDIA will supply the GPUs and lease any unused compute capacity at an agreed price for up to six years, effectively providing lenders a revenue floor. If GMI sells that capacity to other AI companies at higher prices, NVIDIA gets 50% of the upside revenue.
Fireworks AI has already signed a four-year compute deal at a price above NVIDIA’s floor.