Indian AI firm AM Intelligence to raise up to $3 billion for Nvidia chips

According to Bloomberg, Indian AI infrastructure company AM Intelligence plans to raise up to $3 billion to buy Nvidia's next-generation chips. The company was founded by the creators of Indian renewable energy group Greenko. It may raise funds through bonds and bank loans, and also expects $300 million in prepayments from potential customers. Talks are still at an early stage.

Data shows that in less than two years, companies worldwide have borrowed over $650 billion to fuel the AI boom. Funding methods are also getting more creative, mixing bank loans with private capital and customer prepayments.

AM Intelligence has already ordered Nvidia Vera Rubin chips as part of an $8 billion project, hoping to be among the first in Asia to use them. Its Hyderabad facility is part of a 1GW computing plan to run trillion-parameter AI models. KPMG expects India's data center industry could see about $90 billion in investment opportunities by fiscal 2035.