USD.AI has led and closed a $106 million senior secured term loan for NexGen Cloud to finance additional GPU capacity in Finland. Silver Point Capital and Victory Park Capital participated alongside USD.AI in the four-year facility.
The financing covers 216 NVIDIA HGX B300 servers containing a total of 1,728 GPUs at a Tier III data center in Finland.
Server shipments are expected during the fourth quarter of 2026.
The capacity has been fully contracted under a take-or-pay agreement with a major AI inference platform, while the loan is scheduled to amortize over the same term.
The transaction is NexGen Cloud’s second financing with USD.AI.
A previous $34 million facility announced in June 2026 supported an NVIDIA B200 deployment in Sweden.
Together, the transactions bring USD.AI’s financing for NexGen Cloud to $140 million across Finland and Sweden.
USD.AI arranged the latest facility and is acting as administrative agent through its GPU Loan Exchange, or GLX.
The platform connects institutional investors with standardized, serviced loans backed by GPU infrastructure and contracted computing revenue.
GLX launched on October 1, 2026, with a $98 million transaction involving Duos Edge AI.
USD.AI said it has originated more than $500 million of GPU financing during 2026, with more than $200 million now flowing through GLX following the NexGen Cloud financing.
NexGen Cloud provides AI cloud infrastructure across Europe and North America and offers Hyperstack Secure Private Cloud and Hyperstack On-Demand.
The company is an NVIDIA Cloud Partner.
KEY QUOTES:
“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.”
Conor Moore, COO And Co-Founder Of USD.AI
“Sourcing capital through USD.AI’s GLX gives us the speed and certainty to convert customer demand into deployed AI capacity across Europe.”
Chris Starkey, CEO Of NexGen Cloud
