NEWS
Core42 secures US $ 550 million HSBC financing to expand AI infrastructure across US and Europe
Core42, a G42 company focused on sovereign cloud and AI infrastructure, has secured US $ 550 million in structured trade finance facilities from HSBC to accelerate AI cloud and compute deployments across the US and Europe.
The UAE-headquartered company completed two non-equity facilities worth US $ 240 million and US $ 310 million in February and May 2026. The funding is designed to support the capital demands and deployment cycles associated with industrial-scale AI infrastructure.
Core42 said the facilities will strengthen its ability to expand large-scale compute capacity tied to long-term enterprise and government demand while maintaining disciplined capital allocation. The company operates across the UAE, US and Europe and is expanding its sovereign AI infrastructure footprint through partnerships with hyperscalers and regional governments.
Neha Gupta, Chief Financial Officer, Core42, said the financing reflects growing institutional confidence in AI infrastructure as a long-term industrial asset class.
“ The provision of the 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,” Gupta said.
Core42’ s European expansion is anchored by its Dublin headquarters, with deployments underway in Italy and France.
Shaikha AlMarri, Head of Banking UAE, HSBC, said the financing structure would support current deployments while creating a framework for future funding initiatives.
Core42 said demand for AI infrastructure is increasing as enterprises move from projects to mission-critical deployments requiring governance, cloud environments and compute capacity. The company expects the facilities to improve deployment speed and support expansion opportunities.
Quantinuum enters into letter of intent with the US Department of Commerce to accelerate US leadership in quantum computing
Quantinuum has announced a letter of intent with the
US Department of Commerce ' s CHIPS Research and Development Office.
The proposal would provide federal funding to support development of large-scale, fault-tolerant trapped-ion quantum computers considered strategically important to the United States.
The initiative is designed to overcome technical bottlenecks while strengthening domestic supply chains and manufacturing capabilities, supporting the US government ' s goal of expanding leadership in semiconductor technology and accelerating commercialization of frontier industries including artificial intelligence and quantum computing.
" Quantum computing has the potential to unlock new possibilities across science, industry and national priorities for decades to come," said Dr. Rajeeb Hazra, President and CEO, Quantinuum. " This collaboration with the Department of Commerce is designed to help Quantinuum ' s path to largescale, fault-tolerant trapped-ion systems while strengthening the US innovation and manufacturing ecosystem."
The letter of intent also supports partnerships with the CHIPS R & D Office and onshore suppliers GlobalFoundries, for critical semiconductor components, and Monarch Quantum, for integrated photonics, to optimize engineering pathways within Quantinuum ' s commercial roadmap. The initiative is also expected to support development of a specialized workforce for next-generation quantum computing technologies and strengthen resilient domestic manufacturing capabilities across the United States.
GlobalFoundries said its semiconductor platforms in cryo- CMOS, cryo-3D interconnect and advanced packaging, combined with Quantinuum ' s ion-trap expertise, are expected to support utility-scale quantum computing development. Monarch Quantum said that its integrated photonics technology and resilient domestic supply chain capabilities would help deliver secure, scalable manufacturing required for fault-tolerant quantum systems nationwide. •
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