Core42, the G42-owned sovereign cloud and AI infrastructure company, has secured $550 million through two structured trade finance facilities with HSBC — a $240 million facility completed in February and a $310 million facility closed in May.
CFO Neha Gupta described the deal as a defining moment for the AI infrastructure sector, reflecting institutional recognition of AI compute capacity as long-duration, industrial-grade investment. General Counsel Roopal Jobanputra added that the non-equity-dilutive structures were designed to support cross-border, mission-critical deployments with appropriate governance frameworks.
The funding will accelerate large-scale capacity buildouts across the US and Europe, where Core42 operates from a Dublin headquarters with deployments in Italy and France. The company is also the entity behind Stargate UAE, a planned 1GW compute cluster in Abu Dhabi.
