USD.AI, a platform financing the compute middle market, led and closed a $106 million senior secured term loan facility for NexGen Cloud, a company in scalable, sustainable AI Cloud solutions across Europe.
Silver Point Capital and Victory Park Capital participated as lenders alongside USD.AI. The four-year facility finances 216 NVIDIA HGX B300 servers, 1,728 GPUs in total, at a Tier III data center in Finland. The escrow funding date is aligned with shipment of the servers, which is expected in Q4/26. The capacity is fully contracted under a take-or-pay agreement with an AI inference platform, and the loan amortizes over the same term.
USD.AI arranged the facility and served as administrative agent through its newly launched GPU Loan Exchange (GLX) which connects standardized, serviced GPU-backed loans with institutional capital.
GLX launched on Oct. 1, 2026 with a $98 million season-and-sell transaction for Duos Edge AI. USD.AI has originated more than $500 million of GPU financing this year, and with the NexGen Cloud facility, more than $200 million of that has now gone through GLX.
“NexGen Cloud came back to us for a facility three times the size of the first, and this time we led it alongside two established credit investors,” Conor Moore, chief operating officer and co-founder of USD.AI, said. “That is what GLX is for: bringing institutional capital into the largely underserved Compute Middle Market, and putting it behind established, fast-growing neoclouds like NexGen Cloud.”
Chris Starkey, CEO of NexGen Cloud, added, “The compute needs of our customers are growing significantly and at a rapid pace. Having access to reliable financing solutions to facilitate that demand is essential to our success. Sourcing capital through USD.AI’s GLX gives us the speed and certainty to convert customer demand into deployed AI capacity across Europe. The USD.AI team’s approach to many of the finance challenges we sometimes face is what separates them from others. We look forward to continuing our business growth together.”
