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Core42, the UAE’s artificial intelligence infrastructure firm, has raised $550 million across two structured trade finance facilities from HSBC to scale up its AI cloud and compute deployments across the US and Europe.
The non-equity dilutive facilities, split across $240 million and $310 million, were completed in February 2026 and May 2026, respectively.
The company said its full stack of AI infrastructure is anchored by its European headquarters in Dublin, with deployments underway in Italy and France and local governance partners across key markets.
The loans will enable accelerated time-to-market for large-scale capacity buildouts tied to long-term contracted demand, it said.
Core42 is a G42 company backed by the UAE’s Sheikh Tahnoun bin Zayed Al Nahyan. It was formed in October 2023 following the merger of three existing businesses, G42 Cloud, Inception, and Injazat.
(Writing by Bindu Rai, editing by Seban Scaria)
