Zankore, an Indonesia-based AI infrastructure company backed by Nvidia, is syndicating a US$3.1 billion five-year loan to buy graphics processing units (GPUs) for a new AI factory in Indonesia, according to people familiar with the matter.

The loan will carry an interest margin of 330 basis points over the Secured Overnight Financing Rate. Citigroup and United Overseas Bank (UOB) are among five original underwriters marketing the deal.

A six-year contract with Nvidia includes revenue sharing and credit support to help reduce lenders’ repayment risk, the people said.

The arrangement covers any unsold computing capacity from the factory’s initial 100-megawatt phase. US fintech companies are also buying GPU computing capacity from Zankore, they added.

The financing will build Indonesia’s first AI factory in Central Java. The initial 100-megawatt phase is consistent with hyperscale data center power demand.

🔗 Source: Bloomberg