Core42 AI expansion received USD 550 million in HSBC-backed trade finance facilities to accelerate sovereign AI infrastructure growth across Europe and the United States.
ABU DHABI: Core42, the Abu Dhabi-headquartered sovereign cloud and AI infrastructure company owned by G42, has secured USD 550 million in structured trade finance facilities from HSBC to support its international growth plans. The announcement marks a major milestone for the company as demand for enterprise-grade AI cloud infrastructure continues to accelerate globally. The new funding package is expected to strengthen Core42 AI expansion across the United States and Europe, where deployments are already underway.
The financing includes two facilities valued at USD 240 million and USD 310 million, completed in February and May 2026 respectively. According to Core42, the facilities were designed specifically to support the high capital requirements and deployment cycles linked to AI cloud and compute infrastructure. The company said the facilities are non-equity dilutive and provide greater strategic flexibility while maintaining disciplined capital allocation.
Core42 currently operates from its UAE headquarters while expanding through deployments and partnerships in key European and American markets. The company’s European headquarters is based in Dublin, with infrastructure rollouts already progressing in Italy and France. Core42 said the financing will help accelerate time-to-market for long-term contracted projects tied to government, enterprise and hyperscale customers.
Chief Financial Officer Neha Gupta described the agreement as a defining moment for the wider AI infrastructure sector, highlighting increasing institutional confidence in industrial-scale AI capacity. HSBC also said the facilities create a framework that can support future funding requirements as Core42 continues to scale operations internationally.
Industry analysts believe the agreement reflects growing global competition among sovereign AI infrastructure providers as governments and enterprises seek secure and resilient computing capacity. With fresh capital support and expanding deployments, Core42 AI expansion is expected to strengthen the UAE’s position in the rapidly evolving artificial intelligence economy.
