USD.AI Provides $34M Facility to NexGen Cloud

The three-year, non-recourse facility will fund a large-scale NVIDIA B200 GPU fleet, expanding Europe's sovereign AI compute capacity.

NEW YORK, June 25, 2026 /PRNewswire/ -- USD.AI, the financing platform for AI compute assets, today announced that it has provided a $34 million, three-year debt facility to fund the deployment of a substantial fleet of NVIDIA B200 GPUs in Sweden.

The infrastructure is operated by NexGen Cloud, a fast-expanding full-stack AI cloud provider specialising in large-scale private deployments and on-demand GPU compute through its Hyperstack platform.

The transaction underscores USD.AI's commitment to financing sovereign, large-scale AI compute infrastructure across Europe, and supports one of the region's fastest-growing AI cloud providers as it scales capacity to meet enterprise demand.

USD.AI's debt instruments have traded more than $18 billion in volume since launching in September 2025, cementing the platform as the benchmark for GPU-backed financing at scale.

"GPUs produce contracted, dollar-denominated cashflows, yet most lenders still can't underwrite them," said Conor Moore, Chief Operating Officer and Co-Founder of Permian Labs, developer of USD.AI. "USD.AI exists to ensure operators like NexGen can access the capital they need to build out European sovereign AI, without diluting equity."

The facility is non-recourse, non-dilutive, and off-balance-sheet, secured by the GPUs and the contractual cashflows they generate, isolating the financing from NexGen Cloud's corporate balance sheet.

"Europe's AI future depends on sovereign infrastructure built at scale, and that requires capital structures that match the asset," said Chris Starkey, Chief Executive Officer of NexGen Cloud. "USD.AI's facility lets us move fast, preserve equity, and put more NVIDIA B200 and NVIDIA B300 GPUs on the ground where European enterprises need them most. This is exactly the kind of partnership that accelerates our path to becoming Europe's leading AI cloud and it's just the beginning of our continued European expansion. Later this year, we will be deploying 4,500 NVIDIA B300 GPUs in our new EU2 data centre in Finland, with an additional 56MW of capacity to follow in 2027."

About USD.AI

USD.AI provides AI infrastructure operators with strategic, non-dilutive financing facilities essential for their scale requirements. The protocol delivers non-recourse loans secured exclusively by the underlying GPU infrastructure, isolating risk from the corporate balance sheet. USD.AI's financing is asset-backed, transparent, and settled onchain, providing capital providers with direct exposure to income-producing compute assets.

For more information, visit usd.ai.

About NexGen Cloud

NexGen Cloud is the foremost provider of sovereign-by-design, full-stack AI cloud environments for the global market.

Purpose-built AI infrastructure for the demands of modern AI workloads, NexGen Cloud's solutions include Hyperstack Secure Private Cloud for single-tenant enterprise deployments and Hyperstack On-Demand, a full-stack AI cloud platform.

As an NVIDIA Cloud Partner, the company hosts its managed infrastructure in Tier 3 data centres across Europe and North America.

For more information, visit www.nexgencloud.com.