AM Intelligence Seeks Up to $3 Billion to Buy NVIDIA Chips
Key Facts
AM Intelligence is seeking to raise up to $3 billion to finance a previously announced purchase of next-generation NVIDIA chips, according to a Bloomberg report published on October 30. The proposed financing is part of the Indian company’s plan to build substantial computing capacity, as its announced orders are tied to large capital investments and delivery dates extending into 2027. The package could include bonds and bank loans, but its final structure has not been decided. People familiar with the matter said the company also expects to receive $300 million in advance payments from potential customers. The discussions remain at an early stage, and terms could change before they are completed.
The company is seeking to link the financing to its purchase of Vera Rubin chips, announced in August, as part of an $8 billion project and a plan to establish one gigawatt of computing capacity. Its Hyderabad facility is intended to run trillion-parameter artificial intelligence models and next-generation agentic AI applications. On October 5, AM Intelligence announced two additional binding orders for 20,000 Rubin processors, allocated to about 70 megawatts in Malaysia and India, with delivery scheduled for the second quarter of 2027. The three orders bring the company’s total commitments to about 29,000 processors and about 100 megawatts. This puts the requested financing in the context of an expansion plan that extends beyond the purchase of a single batch of processors.
The company said it plans to add 300 megawatts to the market within 15 months of its October 5 announcement, with capital spending exceeding $20 billion, alongside $6 billion already committed to the initial 100-megawatt phase. It also said it has developed a global pipeline of about 400 megawatts of computing services and is targeting one gigawatt of these services as part of a broader program for 5 gigawatts of powered data centers. Expansion plans depend on securing the financing, customers and infrastructure needed to operate the processors. The funding sources cited in the report include bonds and bank loans, as well as expected advance payments from potential customers. But the preliminary discussions do not establish that these amounts or terms have been finally secured.
AM Intelligence was founded by the founders of renewable energy producer Greenko Group. Its plans come amid rapid expansion of India’s digital infrastructure; the government said data center power capacity rose from about 375 megawatts in 2020 to 1.57 gigawatts in August 2026, and is expected to approach 8 gigawatts by 2030. The government also said investments of about $70 billion are underway in the sector, in addition to announced projects worth $90 billion. India included data centers on its infrastructure list in the 2022–23 budget, facilitating access to credit, while the 2026–27 budget announced a tax exemption through 2047 for eligible foreign cloud service providers using infrastructure within the country. These policies and investments point to a growing digital infrastructure market in which the company is seeking to operate.
Competition to build data centers in India is intensifying as power and financing requirements rise. The Central Electricity Authority said data center power demand could reach 17 gigawatts in fiscal year 2031–32. For AI computing capacity, the Ministry of Electronics and Information Technology said 14 providers and data centers had made 38,231 graphics processing units available to eligible users at an average subsidized rate of 65 rupees per hour, according to a statement issued in March 2026. Prime Minister Narendra Modi also said AirTrunk announced in June a plan to invest about $30 billion in India and develop 5 gigawatts of data center capacity. More broadly, Bloomberg reported that borrowing tied to the AI boom has injected more than $650 billion of debt into markets in less than two years. NVIDIA shares closed at $203.2488 on October 30, according to EL7 data.