UAE-headquartered AI infrastructure operator Core42 has secured new financing to fuel its build-out.

The G42-owned firm has announced the successful arrangement of two structured trade finance facilities, totaling $550 million, with HSBC.

The firm said the funds will accelerate its AI cloud and compute deployments across the United States and Europe.

The facilities, of $240m and $310m, were completed in February 2026 and May 2026, respectively.

“The trade finance facilities represent a defining moment for Core42 and for the broader AI infrastructure sector, reflecting growing institutional recognition of AI architecture as long-duration, industrial-grade capacity,” said Neha Gupta, Core42 CFO. “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. As enterprises and governments scale mission-critical AI workloads, the underlying cloud and compute platforms must be resilient and built to support sustained demand.”

Core42 is G42's business focused on sovereign cloud and AI infrastructure, and has announced or launched sovereign AI infrastructure capacity in the UAE and partnerships in the US, France, and Italy. The firm has also partnered with Northern Data’s Taiga Cloud.

Shaikha AlMarri, head of banking UAE, HSBC, added: "These pioneering structures are designed to support the financing of Core42’s current deployment, while also establishing a robust framework that enables streamlined access to funding for future initiatives. By providing this flexibility, HSBC demonstrates a strong appreciation of the unique requirements and dynamics within the technology sector.”

Abu Dhabi's G42 is chaired and majority owned by the brother of the UAE’s president, Tahnoun bin Zayed Al Nahyan. Tahnoun is the nation's national security adviser and chair of Stargate-backer MGX. G42 is also an investor in regional data center operator Khazna.