Core42 raises $550 million from HSBC to scale AI infrastructure in US and Europe

Core42, a company specializing in sovereign cloud and AI infrastructure, has secured two structured trade finance facilities worth a total of $550 million. The capital from HSBC will be used to accelerate the company’s cloud and infrastructure deployments across the United States and Europe.

The facilities of $240 million and $310 million respectively are non-equity dilutive and reinforce Core42’s disciplined capital allocation approach as it expands its global footprint.

Neha Gupta, Chief Financial Officer of Core42, said that the facilities will enable the UAE-headquartered business to accelerate its time-to-market for large-scale capacity buildouts tied to long-term contracted demand and enterprise-grade workloads.

“The provision of these 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. Securing these facilities reflects the growing institutional recognition of AI architecture as long-duration, industrial-grade capacity, against the backdrop of enterprises and governments scaling their mission-critical AI workloads.”

Roopal Jobanputra, General Counsel at Core42, added: “Industrial AI infrastructure demands structural discipline. 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 facility, Shaikha AlMarri, Head of Banking for the UAE at HSBC said: “These 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. By providing this flexibility, HSBC demonstrates a strong appreciation of the unique requirements and dynamics within the technology sector.”