AM Intelligence, the AI infrastructure company set up by the founders of renewable energy major Greenko Group, is looking to raise as much as $3 billion to pay for its previously announced order of Nvidia’s next-generation chips, according to a report citing people familiar with the matter.

The financing is still being finalised and could combine bonds and bank loans. The company also expects about $300 million as advance payments from prospective offtakers, the customers that would buy capacity on its platform.

Funding a 1-gigawatt AI compute bet

AM Intelligence said in August that it had placed an order for Nvidia’s Vera Rubin chips as part of an $8 billion project. The plan is to build 1 gigawatt of AI computing capacity at its facility in Hyderabad, designed to run trillion-parameter AI models and the next wave of agentic AI applications.

At that scale, the Hyderabad campus would sit among the largest AI compute build-outs announced in India, and it shows how Indian players are moving from renting GPU capacity to owning frontier-grade hardware outright.

Debt becomes the fuel for AI infrastructure

The deal structure mirrors a global trend. The AI boom has generated more than $650 billion of debt in under two years, according to Bloomberg data, as builders lean on bond markets and lenders rather than equity alone to pay for chips, power and data centres.

Offtaker advances are also becoming a common way to de-risk these projects: committed customers pay early, lenders gain visibility on revenue, and the developer secures scarce chips ahead of competitors.

Why it matters for India

India’s appetite for domestic AI compute is rising fast, driven by sovereign AI programmes, enterprise adoption and the IndiaAI Mission’s push to widen GPU access for startups and researchers. A KPMG report from July estimates a $90 billion investment opportunity across India’s data centre value chain by FY2035.

Power is the other half of the equation. With roots in Greenko’s renewable energy business, AM Intelligence is positioned to pair large GPU clusters with clean power, a combination that hyperscalers and model builders increasingly treat as a must-have for long-term AI capacity.

If the financing closes, it would mark one of the biggest debt-funded AI infrastructure raises by an Indian company, and a clear signal that India intends to host, not just consume, frontier-scale AI compute.

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