AM Intelligence Seeks $3 Billion for Nvidia Rubin GPUs: Bloomberg
An artificial intelligence infrastructure firm in India, AM Intelligence, is seeking to raise up to $3 billion through bond issues and bank loans to purchase Nvidia Corp’s next-generation Rubin graphics processing units, Bloomberg reported on Friday. The Hyderabad-based company plans to split the funding between bonds and loans, though the exact financial breakdown is not yet finalized.
Bond Issues And Bank Loans Fund Rubin Purchases
AM Intelligence expects to secure $300 million in advance payments from potential offtakers to support the procurement. The firm claims it ranks among the largest committed buyers of Nvidia’s Rubin chips outside of North America. However, the company did not respond to CNBC’s requests for comment regarding the debt-raising plans.
The Hyderabad firm is owned by the founders of Greenko, a leading Indian renewable energy company. On October 5, AM Intelligence announced a $6 billion investment plan to establish 100 megawatts of computing power split across data centers in India and Malaysia. That initial deployment involves purchasing 29,000 Rubin chips. Beyond the current rollout, the company intends to add 300 megawatts of capacity to the market within the next 15 months, backed by an investment exceeding $20 billion.
Energy Providers Shift Toward Neocloud Computing
AM Intelligence operates within a broader expansion of Indian AI infrastructure providers offering computing-as-a-service. Mumbai-based Yotta Data Services announced plans earlier this year to invest $2 billion in an artificial intelligence hub utilizing Nvidia’s Blackwell Ultra GPUs.
Traditional energy companies across India are transitioning into neocloud providers by constructing data centers to lease computing power to hyperscalers, according to Neil Shah, vice president at market intelligence firm Counterpoint Research. Shah pointed to the Adani Group, Reliance, and Tata Power as prominent examples of this industrial shift.
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Nvidia’s Rubin GPUs are specifically tailored for agentic AI workloads, giving AM Intelligence a first-mover advantage in India, Shah noted. While Blackwell Ultra GPUs primarily support raw foundational model training, enterprise demand by next year will center on running low-latency production agents.
AM Intelligence Plans 5 Gigawatts of AI Data Centers
AM Intelligence is currently developing 5 gigawatts of AI data centers and 1 gigawatt of compute-as-a-service spread across India, the United States, and Europe, a company spokesperson stated in a note. The firm aims to deploy 400 megawatts of compute capacity within two years.
Despite the announced deployment schedules and investment figures, several details remain unverified. The exact split between bond issues and bank loans for the $3 billion debt raise has not been finalized. AM Intelligence did not respond to inquiries regarding its status as a major buyer of Rubin chips outside North America.