GMI Cloud Seeks $300 Million Loan for Thailand AI Chips

GMI Cloud, a U.S.-based data center operator and Nvidia partner, is seeking a US$300 million loan to purchase AI chips for its facility in Thailand. The company has approached private credit funds and banks for the financing, which is expected to offer yields in the low-teens.

The chips will be housed at a site operated by ST Telemedia Global Data Centres and are designated for use by Tencent. This financing request follows a recent NT$13.9 billion (US$436 million) loan the company secured for a project in Taiwan.

The move reflects a broader trend among lenders who are expanding their financing scope from general data center infrastructure to the specific hardware powering artificial intelligence.