Core42 Secures $550 Million from HSBC to Accelerate AI Infrastructure Deployments Across the US and Europe

Abu Dhabi-headquartered AI infrastructure operator Core42 has secured $550 million in structured trade finance from HSBC, split across two facilities designed to fund large-scale cloud and compute deployments in the United States and Europe as demand from enterprise and government customers accelerates beyond what equity-backed capital alone can support.

The first facility, worth $240 million, closed in February 2026. The second, totalling $310 million, was completed this month. Both instruments are non-equity dilutive, preserving Core42's ownership structure while expanding its capital capacity to meet contracted demand from enterprise, government, and hyperscale customers across two of the world's most active AI infrastructure markets.

Neha Gupta, Chief Financial Officer of Core42, said the transaction reflects a structural shift in how institutional lenders assess AI infrastructure as an asset class. "The trade finance facilities represent a defining moment for Core42 and for the broader AI infrastructure sector, reflecting growing institutional recognition of AI architecture as long-duration, industrial-grade capacity," she said. Gupta added that the arrangement reinforces the company's commitment to disciplined expansion: "The provision of the trade facilities by HSBC will strengthen our ability to deploy capacity at speed across the US and Europe while maintaining financial discipline and a long-term growth framework."

Dublin Anchors a Multi-Market European Buildout

Core42 is expanding in Europe, with a regional headquarters in Italy and France and local governance in additional markets. The capital from the HSBC facilities will accelerate that buildout alongside Core42's existing US activity, as enterprises and governments in both regions move from AI experimentation to large-scale, production-grade deployment.

As enterprises and governments scale mission-critical AI workloads, Gupta noted, the infrastructure supporting them must be built for resilience and long-duration demand, not short-cycle capacity cycles. "The underlying cloud and compute platforms must be resilient and built to support sustained demand," she said.

A Financing Model Built for Future Tranches

For HSBC, the transaction represents a structural commitment to the AI infrastructure sector rather than a one-off facility. Shaikha AlMarri, Head of Banking UAE at HSBC, said the design of the facilities was forward-looking by intent. "These pioneering structures are designed to support the financing of Core42's current deployment, while also establishing a robust framework that enables streamlined access to funding for future initiatives," she said. AlMarri added that the deal reflects HSBC's understanding of what AI-native businesses require from their banking partners: "By providing this flexibility, HSBC demonstrates a strong appreciation of the unique requirements and dynamics within the technology sector."

Core42 is a subsidiary of Abu Dhabi conglomerate G42 and operates across sovereign cloud, AI infrastructure, and professional services.

Structured Capital for an Infrastructure-Intensive Business

Core42 operates what it describes as the G42 Intelligence Grid, a compute-to-token platform designed for industrial-scale AI workloads. Its customers include enterprises running mission-critical applications, national governments building sovereign AI capabilities, and hyperscale providers requiring additional capacity beyond their own infrastructure. The two HSBC facilities are purpose-built for the capital intensity of that model, structured to reduce time-to-market for large buildouts tied to long-term contracted demand rather than speculative capacity additions.

The non-dilutive structure is a deliberate choice. As AI infrastructure operators take on greater balance sheet weight to meet sustained demand, access to debt instruments that do not compress equity value becomes a competitive differentiator. Core42's General Counsel, Roopal Jobanputra, said the legal and governance architecture of the facilities was designed with cross-border operational complexity in mind. "Industrial AI infrastructure demands structural discipline," she said. "The facilities are built to support long-term deployment at scale while maintaining the governance and cross-border clarity required for mission-critical infrastructure."