The funding package for the company, established by the founders of renewable energy producer Greenko Group Plc, could comprise of bonds and bank loans, among others, said the people who asked not to be identified discussing private details. 

The breakdown between the various options is still being finalised and the firm also expects to get US$300 million in advance payment from potential offtakers, the people said. Talks are still in the initial stages and terms could change.

A representative for AM Intelligence declined to comment. Nvidia didn’t respond to requests for comment.

The planned deal shows how the race to fund the AI infrastructure buildout in Asia and elsewhere is giving rise to increasingly layered financing structures, combining traditional bank lending with private capital and upfront commitments from customers as developers seek billions of dollars to secure the latest generation of processors.

Globally, the borrowing binge tied to the AI boom has flooded markets with more than US$650 billion of debt in less than two years, according to data compiled by Bloomberg.

AM Intelligence said in August that it had ordered Vera Rubin chips under an US$8 billion project, as it seeks to become one of the first adopters of the advanced computing platform in Asia. The project is part of a broader plan to set up one-gigawatt of computing capacity. Its Hyderabad facility aims to run trillion-parameter AI models and next-generation agentic AI applications.An estimated US$90 billion in investment opportunity could emerge across India’s data centre value chain by fiscal year 2035, extending beyond capacity additions into related infrastructure and services, according to a KPMG report released in July.

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