Ooredoo-backed Zankore secures $3.1 billion financing for Nvidia AI cloud platform

AI platform Zankore said on Wednesday it has signed an up to $3.1 billion senior term loan facility to fund the rollout of Nvidia-powered GPU and cloud-computing infrastructure, as it expands AI capacity in Indonesia and across ‌Southeast Asia.

Zankore is a dedicated AI compute and neocloud platform being developed with Indonesian telecom operator Indosat Ooredoo Hutchison, Nokia and Nvidia.

Proceeds from the debt financing will support the acquisition and deployment of advanced NVIDIA GPU infrastructure, the Southeast ⁠Asia-focused platform ‌said.

Qatari telecommunications provider Ooredoo is Zankore’s founding shareholder and lead investor, holding ⁠a 49% stake, as it seeks to establish an early presence in Southeast Asia’s rapidly expanding AI-infrastructure market.

Zankore said it is building an initial 100 megawatts of Nvidia AI Infrastructure, looking to provide cloud services to AI-native entities in Indonesia and Southeast Asia.

At its launch on August 6, the platform said it is targeting 1 gigawatt of Nvidia DSX ⁠AI Factory capacity and approximately 200 megawatts of initial capacity in the first half of 2027.

Citi acted as exclusive debt adviser for the loan facility, and was also exclusive financial adviser to Indosat on the setup of Zankore and its equity fundraise earlier in August.