GMI Cloud Secures $947 Million Loan for Taiwan Data Center

GMI Computing US Inc. secured loan commitments exceeding NT$30 billion ($947 million) to fund a data center in Taiwan. The financing, coordinated by CTBC Bank, was more than double the NT$13.9 billion the company initially sought. The five-year loan is backed by customer contracts for computing power from advanced GPUs.

Nvidia Inc. supports the project by providing the GPUs and guaranteeing a revenue floor, agreeing to lease any unused capacity for up to six years. In return, Nvidia will receive half of the revenue GMI Cloud generates from other AI clients. Fireworks.ai, Inc. has already committed to a four-year lease for computing capacity at a premium price.

This arrangement is part of a larger Nvidia initiative to assist partners in expanding data center infrastructure. In its most recent quarterly filing, Nvidia reported $36 billion in similar commitments to support its partner network.