Cloud infrastructure provider Vultr has secured $329 million in credit financing to help further expand its AI infrastructure and cloud computing platform.

The financing is made up of a $255 million syndicated credit facility, including a $35 million uncommitted accordion, and $74 million of recently closed lease financing, which was led and syndicated by Bank of America.

The syndicated credit facility was led by J.P. Morgan, Bank of America, and Wells Fargo, with participation from Citi, Goldman Sachs, and KeyBank.

According to Vultr, it will use the funding to help expand its footprint of AI and cloud infrastructure.

“This milestone credit facility from some of the world’s most respected financial institutions is a strong validation of Vultr’s financial strength, operational discipline, and long-term vision,” said J.J. Kardwell, CEO of Vultr. “Building on our recent $3.5 billion valuation equity financing, this credit facility further accelerates our global expansion. For enterprises, AI innovators, governments, and compliance-driven organisations, Vultr provides an independent, transparent, and institutional-quality alternative to the hyperscalers."

“J.P. Morgan is thrilled to support Vultr’s continued growth and success,” added Lorenzo Colonna di Paliano, innovation economy market executive, J.P. Morgan Commercial Banking. “Throughout our longstanding relationship, Vultr has shown time and again their ability to innovate and scale in a dynamic sector. We’re proud to contribute to their journey and help Vultr achieve new heights in the cloud computing industry.”

The credit financing comes around six months after Vultr raised $333 million in a funding round led by LuminArx Capital Management and AMD Ventures, similarly to help the company expand its footprint.

DCD exclusively reported earlier this year that Vultr was looking at going public "sometime in the coming years," with CMO Kevin Cochrane explaining that the December financing was in part done to help "start setting us upon the path."

Vultr was founded in 2014 by David Aninowsky. The company currently has 32 cloud data center regions across six continents and describes itself as the world's largest privately held cloud infrastructure company.