Core 42, a subsidiary of G42 specialising in sovereign cloud and AI infrastructure, has secured US$550 million in structured trade finance facilities from HSBC to accelerate its AI cloud and compute expansion across the United States and Europe.
The company said the financing consists of two facilities worth US$240 million and US$310 million, completed in February 2026 and May 2026 respectively.
According to Core42, the facilities were specifically structured to support the capital-intensive deployment cycles associated with AI cloud infrastructure. The company added that the financing is non-equity dilutive, allowing it to expand globally while maintaining a disciplined capital allocation strategy.
Headquartered in the United Arab Emirates, Core42 currently operates deployments across the United States and Europe, serving enterprise, government, and hyperscale customers.
The company said the funding will help accelerate large-scale infrastructure capacity buildouts linked to long-term contracted demand and enterprise-grade AI workloads.
Neha Gupta, Chief Financial Officer of Core42, described the financing as a significant milestone for both the company and the broader AI infrastructure industry.
“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,” Gupta said.
“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. As enterprises and governments scale mission-critical AI workloads, the underlying cloud and compute platforms must be resilient and built to support sustained demand.”
Core42 said the financing strengthens its capital structure alongside strategic hyperscaler and sovereign partnerships, positioning the company for long-term expansion.
The company is also expanding its sovereign AI ecosystem model into Europe, with its regional headquarters based in Dublin and ongoing deployments in Italy and France.
Roopal Jobanputra, General Counsel at Core42, said the financing structure supports sustainable long-term deployment while ensuring governance and cross-border operational clarity.
“Industrial AI infrastructure demands structural discipline,” Jobanputra 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.”
Commenting on the agreement, Shaikha AlMarri said the facilities were designed to support both current and future deployment plans.
“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,” AlMarri said.
“By providing this flexibility, HSBC demonstrates a strong appreciation of the unique requirements and dynamics within the technology sector.”
With inputs from WAM
