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AM Intelligence seeks $3 billion in debt for Nvidia Rubin chips, CNBC says
CNBC, citing Bloomberg, said Hyderabad-based AM Intelligence plans to raise up to $3 billion in bonds and loans to buy Nvidia's next-generation Rubin GPUs.
- New headline Was: “Indian AI infrastructure firm reportedly seeks to raise $3 billion of debt to buy Nvidia's next-generation chips”
- Our desk filed its story
Hyderabad-based AM Intelligence is planning to raise up to $3 billion through bond issues and bank loans to buy Nvidia's next-generation Rubin graphics processing units, CNBC reported Friday, citing Bloomberg1.
The mix of bonds and loans has not been finalized, CNBC said, and Bloomberg reported that the firm expects $300 million in advance payments from potential offtakers1.
AM Intelligence, which CNBC said is owned by the founders of Indian renewable energy company Greenko, claims to be among the largest committed buyers of Rubin GPUs outside North America1.
The company did not respond to CNBC's request for comment1.
In an Oct. 5 release cited by CNBC, AM Intelligence said it plans to invest $6 billion to build 100 megawatts of computing capacity split between centers in Malaysia and India, and that it would buy 29,000 Nvidia Rubin chips for that capacity1.
The same release said the company plans to add 300 megawatts of capacity to market in the next 15 months with an investment of more than $20 billion1.
A company spokesperson said in a note cited by CNBC that AM Intelligence is developing 5 gigawatts of AI data centers and 1 gigawatt of compute-as-a-service across India, the United States and Europe, and that it plans 400 megawatts of compute capacity within two years1.
CNBC placed the firm among Indian companies offering computing-as-a-service, noting that Mumbai-based Yotta Data Services earlier this year said it planned to invest $2 billion in an AI hub using Nvidia Blackwell Ultra GPUs1.
Neil Shah, a vice president at Counterpoint Research, told CNBC that energy companies in India are building data centers that can be leased to hyperscalers, naming Adani Group, Reliance and Tata Power as examples, and said Rubin GPUs are aimed at agentic AI1.
