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Surge in Asian Computing Power Demand, Zankore Secures $3.1 Billion GPU Financing

On September 9, U.S. media reported that Indonesian AI infrastructure platform Zankore, supported by NVIDIA, signed a $3.1 billion loan agreement on Wednesday to purchase advanced chips, highlighting the surge in demand for computing power in Asia. According to Zankore's statement, Citigroup, ING, Natixis, Qatar National Bank, and United Overseas Bank underwrote the loan, making it one of the largest AI infrastructure financings in Asia. Citigroup acted as the sole debt advisor for the transaction. GPU financing is becoming the next frontier for AI lenders, with banks and private credit moving beyond data centers to focus on the hardware that powers them. In Asia, bank-led transactions have been scarce due to uncertainties regarding chip residual value and geopolitical risks stemming from U.S.-China technology competition.

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