AI cloud startup General Compute Inc has secured $400 million in debt financing.

The funding has been underwritten by tech investment firm Upper90 and will see inference-specific chips used as collateral.

According to SiliconAngle, Upper90 will initially provide $100 million in funding, with General Compute to draw on additional funds as needed.

General Compute uses chips from AMD and SambaNova for its cloud platform, specifically targeting inference workloads.

The SambaNova GN50 chips are used for decoding calculations, while AMD MI300X graphics cards handle the rest of the workload phases for inference. Both can be run in air-cooled racks.

General Compute's offering is accessible via managed versions of open-source language models, or through an API.

Upper90 co-founder and CEO Billy Libby told TechCrunch: “We think open source models are going to be important, and we went and looked for a player last year that was in inference. Everyone doesn’t need a supercomputer, but they do need inference and AI.”

Finn Puklowski, founder and CEO of General Compute, added: “There are a bunch of chips that are starting to scale that have amazing [total cost of ownership], or that can operate much faster than Nvidia, but there’s not too many buyers for them.

“By getting together with Upper90, this is not just, ‘a cool startup got some money to buy some compute.’ Like, this is the first signal of capital organizing itself and the fragmenting of Nvidia’s monopolistic dominance.”

General Compute was founded by Puklowski and CTO Jason Goodison. In May 2026, the company raised $15m in seed funding. A whitepaper shared by the company at that time said it has "options on 15 megawatts of air-cooled power, which is enough to support the Q4 2026 architecture and the growth beyond it, at colocation facilities that exist today."