Taiwanese neocloud GMI Cloud is reportedly seeking a US$635 million loan.

As reported by Bloomberg and citing people familiar with the matter, the company is inviting banks to join the deal, which will be a multi-tranche loan supported by its customer contracts for GPUs.

Within the package is a five-year term loan worth NT$13.9 billion (US$433m) in Taiwan's syndicated loan market. Banks can submit commitments by August 28, with signing currently scheduled for September 11.

The rest is a NT$6.4bn (US$199m) 12-month bridge term loan and a NT$150m (US$4.67m) five-year revolving facility, which are being provided by CTBC Bank.

Proceeds of the loan are expected to fund GMI Cloud's AI factory project in Taoyuan, Taiwan. GMI announced it would be establishing a $500m data center in the city in November 2025, aiming to deploy around 7,000 Nvidia GB300 GPUs across 96 racks and offer a power capacity of around 16MW. The cluster will be housed within a Vantage Data Centers facility.

GMI, founded in 2023, also operates data centers in the US, elsewhere in Taiwan, and in Singapore, Thailand, and Japan. The company launched a $12bn sovereign AI infrastructure initiative in the latter country in March of this year, and is also working with Magna AI on a global network of "sovereign AI factories." In November 2024, it secured $82m in Series A funding.