Zankore Secures $3.1 Billion Loan to Build NVIDIA‑Powered AI Factory in Indonesia

Overview

• Zankore, which announced the financing Wednesday, secured a syndicated senior term loan of up to $3.1 billion advised by Citi with lead lenders including ING, Natixis CIB, Qatar National Bank and UOB.
• The loan will buy NVIDIA GPUs to build an initial 100 MW NVIDIA DSX AI Factory in Indonesia with a target of roughly 200 MW by the first half of 2027 and a three‑year ambition of 1 GW across Southeast Asia.
• The venture launched in August with backing from Ooredoo Group, Indosat Ooredoo Hutchison, NVIDIA and Nokia, and Ooredoo committed about $800 million for a 49% stake, giving Zankore near‑term access to land, power procurement and network integration.
• The deal’s structure—a senior term loan rather than equity—reflects lenders’ confidence in predictable revenue from GPU‑as‑a‑service but leaves execution risks from power availability, site readiness and evolving export controls on advanced chips.
• If built at scale, the project could localize AI compute for regional enterprises and startups, speed deployment of Southeast Asian models like Sahabat‑AI, and create a financing template for turning GPU fleets into long‑dated infrastructure assets.