Indian AI infrastructure firm AM Intelligence is seeking to raise up to $3 billion to pay for its order of Nvidia’s next-generation Vera Rubin chips, Bloomberg reported on October 30, 2026, making the AM Intelligence $3B plan one of the largest AI infrastructure financing efforts in Asia this year.

The funding package could combine bond issues and bank loans, according to people familiar with the matter who asked not to be identified because the talks are private. The Hyderabad-based company also expects about $300 million in advance payments from potential offtakers, the reports say.

AM Intelligence declined to comment on the reported financing, and Nvidia did not respond to requests for comment. The company was established by the founders of Greenko Group, one of India’s leading renewable energy producers, and describes itself as one of the largest committed buyers of Rubin GPUs outside North America.

$3B in bonds and bank loans planned by AM Intelligence.
Graphic: GPTOnline

What Is AM Intelligence Buying?

Vera Rubin is Nvidia’s next-generation AI chip platform, built for agentic AI and trillion-parameter models. AM Intelligence said in August 2026 that it had placed a firm and binding order for 9,000 Nvidia Rubin GPUs, deployed as Vera Rubin NVL72 rack-scale systems delivering 30 megawatts of capacity at its Hyderabad site, with delivery slated for the first quarter of 2027. The order sits inside an $8 billion project aimed at making the company one of the first adopters of the advanced computing platform in Asia.

The ambition goes further. The company has outlined plans for 1 gigawatt of Compute-as-a-Service capacity across India, the United States, Finland and Malaysia, with an initial 200 megawatts targeted for near-term deployment. In an October 5 announcement, the company said it would invest $6 billion in 100 megawatts of computing capacity split between India and Malaysia, using 29,000 Rubin chips, and that it plans to bring 300 megawatts to market in the next 15 months with investment of more than $20 billion.

9,000 Nvidia Rubin GPUs ordered by AM Intelligence for Hyderabad.
Graphic: GPTOnline

Why It Matters

The reported raise is the latest sign that the AI infrastructure boom is being financed with debt. Reuters reported this week that the five largest Big Tech spenders doubled capital expenditure to $556.9 billion in the first nine months of 2026, exceeding the record $542.9 billion of operating cash flow they generated, and cut share buybacks 83% as AI spending took priority. Morgan Stanley forecasts capital spending on AI infrastructure will surpass $1 trillion next year.

The timing also fits a pattern of mammoth AI financing this month. Meta closed the first phase of a $37.5 billion equity raise this week, Microsoft priced a $25 billion bond sale (its first US investment-grade issuance in more than nine years), and Nvidia is in talks to guarantee billions in Nscale debt for an Anthropic data center. Against that backdrop, a $3 billion debt package for next-generation Nvidia chips is large but consistent with the scale of the current buildout.

There is also an India angle. NewsBytes cited a July KPMG report estimating a $90 billion investment opportunity across India’s data center value chain by fiscal year 2035. If AM Intelligence closes the financing, its Hyderabad facility would aim to run trillion-parameter AI models and next-generation agentic applications, putting India squarely in the Rubin supply chain.

One caveat matters: Bloomberg’s sources describe talks at an early stage, with terms that could change, and the split between bonds and loans still undecided. This is a reported financing plan, not a closed deal.

Sources